We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Transferring % of Equity
AquilaEagle
Posts: 18 Forumite
Property has a mortgage on it paid by one person. That person wants to transfer 50% of the equity in said property to unmarried partner, but without partner paying towards the remaining mortgage.
Questions:
1. Can this be done?
2. How (avoiding pricey solicitors)?
Questions:
1. Can this be done?
2. How (avoiding pricey solicitors)?
0
Comments
-
Unlikely.
The receiver would have to become party to the mortgage as well, unless they fortunately have a mortgage with HSBC which does somehow allow more owners than borrowers using a very strange legal charge.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
The partner has no income, how would this affect the mortgage?0
-
I've no idea, you'd need to ask the lender concerned.
As well as income, the outgoings need to be calculated and compared with the mortgage amount and remaining term to establish if the lender will consider the alteration affordable.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
What if they got married?0
-
What's the objective you are trying to achieve?0
-
To become joint owners of the propertyThrugelmir wrote: »What's the objective you are trying to achieve?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards