Taking name off mortgage

[RattyEggs]

Can I take my name off of a mortgage? I'm moving abroad, and renting it out will mean a lot of hassle.

Joint mortgage with mother who does not live there.

you'll need her permission.

I think she would give it.

The permission I mean, fuzzywuzzy.

Alorsmum, I would like to transfer everything into her name, mortgage and deeds.

It would be a hassle for tax purposes and getting a new mortgage with my fiance once we move etc.

Sorry, I live there at the moment, and have been paying the mortgage (interest only).

but can she pay the mortgage? The mortgage company would want to make sure she has enough income to pay the mortgage. saying she would pay it by letting it out wouldn't be enough.

Ah, I see. Thank you for clarifying, Oranges.

I've been trying to get a straight answer from our mortgage company, but no success yet. Will I need to go and pay a solicitor or can I just get the transfers done with everyone's permission assuming that she does satisfy the mortgage company?

She lets out other property which is mortgaged, so hopefully it will be ok.

You need to set up a meeting at the bank with your mum. You make a joint application to transfer the mortgage account into her name. If she satisfies their criteria, they'll agree. The fee for the transfer is usually about £150.

the transfer of the beneficial interest in the house can only really be done by solicitors. They'll charge around £400 plus LR charges etc. They'll need to ensure that the bank agrees to the transfer as the bank will seal the transfer deed.

Thank you everyone