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    • iso76
    • By iso76 7th Feb 18, 5:52 PM
    • 1Posts
    • 1Thanks
    Re-mortage question - change of names
    • #1
    • 7th Feb 18, 5:52 PM
    Re-mortage question - change of names 7th Feb 18 at 5:52 PM

    I'm potentially looking to take over the mortgage on our house in a couple of years.
    My partner put up the deposit at the time of purchase as I had large debts at the time, and it's currently only in her name. So I'm looking to equalise things financially by paying off my half by becoming the sole mortgage holder at the time a remortgage is due (they will have paid their half effectively by then).

    We're currently looking to get me added to the existing mortgage, and deeds, but does anyone know if mortgage providers would need the original mortgage holder to be named on the agreement for the (new) remortgage?
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    • Thrugelmir
    • By Thrugelmir 7th Feb 18, 6:19 PM
    • 58,204 Posts
    • 51,577 Thanks
    • #2
    • 7th Feb 18, 6:19 PM
    • #2
    • 7th Feb 18, 6:19 PM
    You'll need to apply for a mortgage in joint names. How you pay it between you is something you can decide. Your partners existing equity along with the equity you inject by repaying the mortgage. Can be dealt with by a decaration of trust. Something the solicitor that handles the new mortgage/transfer of the property into both of your names can assist you with.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
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