Removing name from property and mortgage

shazkhan111

Hello, i own a property with a relative and need to remove their name from the deeds and mortgage. Due to their age the mortgage is due to be paid later this year. So want to change it to sole ownership and remortgage? What is the process of doing this and are their any pitfalls i need to be aware of?
Cost? Is there a stamp duty liability?

NewShadow

Hi @hellomortgage, you might not be aware, but promoting your own business via your signature - or registering as a user with a business account - is against the forum rules. 

You might want to read the guide here and get verified before you get in trouble  

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Tom99

shazkhan111 said:

Hello, i own a property with a relative and need to remove their name from the deeds and mortgage. Due to their age the mortgage is due to be paid later this year. So want to change it to sole ownership and remortgage? What is the process of doing this and are their any pitfalls i need to be aware of?
Cost? Is there a stamp duty liability?

Unless this property is the relatives main residence they may be liable for CGT based on current market value.