Transferring ownership of mortgage to another person

hottdang1

Hi All
My wife and I have a mortgage but it's solely in my name (there's a deed of trust so she has to give permission to sell etc)
This is because she is low income so with her on the mortgage, it reduced the borrowing capacity too much

Anyway, we've separated and I'm looking to cut ties with anything connected to the property
It's amicable but she plans to claim working tax credits housing benefit etc as she only earns 11k

I can't transfer the house to her name for the low earnings but her brother may be able to help
I have no interest in taking any value from the equity - it's my sons legacy essentially


Can I transfer the mortgage to my brother in law ?

I plan to pay into the mortgage as a way of paying maintenance but if I am still connected to the property, it may cause my wife a problem with her claim

Many thanks

Pixie5740

No you can't transfer a mortgage into someone else;s name. Your BIL or your BIL and wife will have to get his/their own mortgage and essentially buy the property from you. How easy that would be for your BIL I cannot say but a mortgage broker should be able to help him.

chanz4

Are you sure she will get housing benefit......