Transfer of Equity???

bintie22

Hi

I've posted a rather long thread on the mortgage board, but not had much response, so i thought i'd pick your brains instead.

We're in a right fix with our mortgage at the moment. We were with a sub-prime lender due to my debts and DMP. The fixed rate is over and we've gone from £620 per month to £900 per month. We're just about coping with it, but not easily.

I've been wracking my brains trying to find a way round this! As all the debts are in my name from before we got together, does anyone know if we could do a Transfer of Equity to take me off the mortgage and have it purely in my partners name? His income would cover it (just about) on income multiples of x4. His credit rating is practically shimmering in comparison with mine?

Any ideas most welcome xx

Leixlip1

No ideas but love the "shimmering" credit rating!!

bintie22

Thanks Leixlip - one day mine'll be like that too - pah! Fat chance!!

bintie22

Does anybody know - or know where i should go to find out?

Thanks guys x

Leixlip1

If you google "transfer of equity" there's some good info' - suggest you have a trawl through that and you may find someone to give you more specific advice,