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Would a mortgage company allow someone to purchase a share in a house to settle the mortgage

The obvious answer is - ask your mortgage company, but I'm thinking of the future and I don't have the mortgage yet.
If I have a mortgage on my house, and at some point a relative wants to move in with me and purchase a share in the house, paying off the mortgage at the same time, would a mortgage company tend to allow this?
The T&C say that they need to grant permission to allow for any change of ownership, but the two things would happen simultaneously.
I can't see it being in the mortgage company's interest to allow this, but is there a way to make it happen?  The mortgage would be one with no early repayment charge.  Would the mortgage company perhaps allow it after the initial offer period was finished?
Thanks

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If you discharge the mortgage fully then the mortgage company will have no interest in who owns the property. 
  • Petriix
    Petriix Posts: 2,301 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    They can't stop you from paying it off (although there may be an early repayment charge if in a fixed period). It would be up to you to deal with the transaction and legal ownership, with the help of a solicitor.
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