Transfer Mortgage?

pocopops

So, the situation is this...
I own a house which my sister lives in. She wants to own the house and I want her to have it, but we want to do it in the cheapest way possible.
I have a fixed rate mortgage on the house which comes to an end in August at which time I will transfer on to the standard variable rate.
Can I just transfer the mortgage to her?
Is there something else we can do to avoid the whole buying/selling/new mortgage costs?

Any help advice greatly appreciated

Thanks!

CLAPTON

the mortgage company will want to treat her like a new customer and wil only allow a transfer of ownership if she meets their lending criteria
stamp duty may be payable depending upon the details

pocopops

Thanks Clapton,

Confident she'll meet criteria:)
We want to avoid her having to 'buy me out' and the silly amount of deposit she'd have to come up with if possible.
Do you avoid this by doing it this way or if she's been treated as a brand new customer will that remain?

Dave_Ham

See decent broker and this should be a stroll in the park, although a bad one will make it hard work.

Depends on a few variables but you need more tailored advice..

Yorkie1

https://forums.moneysavingexpert.com/discussion/3946933

Cross-posted.

OP, in the future, please only start one thread. It's a little frustrating for others to spend time considering how best to respond and then to find out that someone else has already answered 30 minutes' previously on another board.

pocopops

Thanks everyone for your help, much appreciated.