ex-parnter on the mortgage and transfer to buy-to-let

m_cork66

Hi,

I own a house with an ex-partner and need to get her off the mortgage etc. at the same time I'm thinking about setting the house up for renting and putting my new partner on this mortgage. I've sorted out a deal witht he ex interms of money for the house, so I dont need to worry about that, but I don't know what to do next. Do I just need to re-mortgage the house under my own name? Do I have to go through some legal process to remove my ex from the deeds? Is there a better way? (The house is worth 83K and I have 76K left on the mortgate so I know i'll need to add some money to get to 85% LTV)

Any help is much appreciated!!!!!

Thrugelmir

m_cork66 wrote: »

so I know i'll need to add some money to get to 85% LTV

With BTL mortgages you'll have far more options at 75%.

You'll need to apply for a new mortgage in joint names. Removing your ex will be handled as part of the process.

m_cork66

Thank you for getting back to me! Managed to do some research and realised it would be worth putting the extra in to get down to 75%.

Do you know if there wll be any additinal costs to emove the ex? i.e. removing her from the deeds or anything like that?