Putting Partner on Mortgage

firstbuyer

After some time applying for mortgages and being rejected, we went with an application solely in my name and it got accepted yay.

In the future however, when he has his credit report in good nick, I would like my partner to be put onto the mortgage, I know its not a simple add his name - but realistically how difficult would it be within a 5yr fix?

Being vague as I don't really understand what the process is etc...:rotfl:

foxy-stoat

A few months before the 5 year fix is due go to your lender and get them to run an application with you both on the mortgage and see if they approve it.

Legal side you will need to sign a Transfer of Equity form and get a solicitor involved, fairly cheap from what I remember. Not 100% sure if you need to pay stamp duty but the solicitor will advise.

ragdollyana

I recently had a quote of £800 through a solicitor for transfer of equity.

firstbuyer

Thanks for the replies - we're going to get a declaration of trust drawn up before completion so he will have equity in the place already. Thanks for the advice