Name removal

clairelbreen

Hello. I own my house with my mother, both names are on the mortgage. She would like to take her name off the mortgage so it’s all mine as I am the only one who pays it. Santander have told us that she can have her name removed but she will have to move out of the house. I was just wondering if this is right. She doesn’t  want to move out but they say that it the rules. 

ACG

Quite a few lenders will take that approach.
She is in effect gifting you her share of the equity, but it comes with strings attached - ie she can live there. 
You will need to find a new lender. Also you need to bare in mind mums age and health, if this is a way to prevent being liable for care fees, it might not work as you hope so just bare that in mind. 

Spogchait

Perhaps best to wait until your current deal ends and remortgage with another lender?  The lenders and your solicitors could deal with it then and could give you advice on navigating this.  It is tricky if your mum is registered as an owner though, the mortgage company need to know that if they need to repossess, no one else will stand in the way - as a co-owner your mum would need to either waive her rights or gift the full property to you so you can be the sole borrower.  Best to get proper advice for you and for her.