Have you been unsuccessful in transfer from joint to sole name mortgage?

[Moneymachine]

As title says, does it ever go wrong if the other joint tenant agrees to be removed and does not claim any equity (basically signs deeds/ property over).has any of you not been accepted due to the affordability etc?

I don’t seem to be able to find any clear advice online on how the process works - I probably need to see mortgage advisor again for them to explain?

Yes, it does go wrong. If the lender is not happy that the mortgage is affordable they will not allow the joint tenant to be removed. You can't force them.

Agree with above. The lender will test your means to pay solely, because legally they can currently chase both of you for funds if needed.
Then you tend to have to pay additional solicitor costs as they have to do checks on other person before removing.
Unfortunately it’s in lenders hands because they don’t want to increase risk of not getting paid by removing someone they could currently chase for the money.

Just to confirm it’s in essence a brand new mortgage from their point of view.

I am currently removing H from a Nat West mortgage. It isn’t a brand new mortgage for them but I did have to show I could meet the affordability criteria.

My Ex applied unsuccessfully to have me removed from two mortgages on several occasions as he had insufficient income. For a variety of reasons I had to be removed from the deeds, but not the mortgages for two years, before he was able to remove me from the mortgages.

Thanks ladies

Boxlikeamarchhare - how did they test affordability criteria? Was it solely on your income / outgoings or credit check too?

My DH made sure I came out our relationship with a poor credit rating. I am worried that even with a strong case put forward to the underwriters (high income) I won’t get it..

I don't know Money, sorry. I am have a squeaky clean credit history so if they checked it it would be OK.

At the lender I work for, they will do an affordability calculation as if you were a new borrower. However if you fail that, but you can show from bank statements that you have been paying the mortgage on your own from a sole account for 3 months or more then your application can be appealed, and will usually be accepted (provided the bank statements show you are paying with no pressure on your finances)

If it fails credit scoring/referencing then generally that would still be a hard no, unless there are strong grounds for appeal (other than just affordability)

Sorry, just seen your update about high income but poor credit score so my previous post may be irrelevant. I would speak to your lender though. If there is a good reason for your poor credit, and you are now out of debt, then you may be able to appeal, and having a high income and passing affordability will be in your favour.