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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Adding a partner to a mortgage
loopingtons
Posts: 1 Newbie
My partner has a mortgage with santander and wants to add me to the mortgage. Its a fixed rate for 3 years which was created/renewed in December last year. As we understand it we would be required to pay £95 to Santander for administration and financial checks and we would be required to get a solicitor and pay any associated costs. Does anyone have any idea what the process is from the solicitor's point of view and the likely costs for such a process?
I have read on here that you can change title deeds using the land registry quite cheaply or employ a solicitor to do this, but I am wondering what else is required if anyone has been through this process and some approximate costs. Many thanks
I have read on here that you can change title deeds using the land registry quite cheaply or employ a solicitor to do this, but I am wondering what else is required if anyone has been through this process and some approximate costs. Many thanks
0
Comments
-
You wont be able to do this yourself as your lender will need their interests protected. DIY is just for mortgage free properties. Id imagine ( just a guess ) it would cost about £300 in solicitors fees to add you by you signing the deed and other bits
cannot imagine much more apart from any Land Registry fees depending on value
0 -
What are the lender's interests in this case? Is there any downside at all from the lender's point of view for someone else becoming responsible for the mortgage?0
-
The property is their interest (security for the mortgage).
Having the option of going after two people increases the odds of the lender getting their money back in case there's arrears or the property is repossessed.dl8860 said:What are the lender's interests in this case? Is there any downside at all from the lender's point of view for someone else becoming responsible for the mortgage?
Mortgage started 2020, aiming to clear 31/12/2029.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards
