How do I take a name off a joint mortgage?
David from Skelmersdale
Conveyancing questions and answers
My daughter wants to take her sister's name off a joint mortgage. What is the process for this and how much might a solicitor charge?
In order to proceed with this, the individual who is to remain on the mortgage account must apply to the lender for consent in order to transfer the mortgage.
Richard Prust, Watson Woodhouse Solicitors LLP
This will usually involve a process in which the lender will assess whether the proposal meets their lending criteria. Assuming it does, a consent to transfer instruction would be issued which would be sent to the solicitor. This would contain the legal requirements set by the lender to enable the transfer to complete. It would then be a case of the solicitor working through those requirements and arranging for a Transfer Deed to be signed by both parties in order to remove sister from the legal title and the mortgage account.
Legal fees for this type of service would be £300 plus VAT of £60. There would be additional search fees and Land Registry costs which would depend on the nature of the individual transaction.
We would be able to provide a fixed fee quotation if you are able to contact us so that we may take full details for your case.
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Hannah, 09 April 2017