How to Remove A Name from a Joint Mortgage

How to remove someone from a mortgage

There are two elements to this: the mortgage and the legal work.

The legal process

The legal process is actually pretty straightforward, so long as all parties agree on what’s to happen. As with any mortgage application, the solicitors (conveyancers) will be involved in setting up the legal charge with the lender, and those named parties on the ownership set up on the Land Registry etc.

What you have to do

Not much, actually. As part of the application, you would simply let the mortgage advisor and solicitor know it’s a transfer of equity. The solicitors will send out the necessary title transfer documents with their normal remortgage pack for you to complete. There is usually an extra charge for this – typically in the region of £250-£300 – but you don’t usually need a different solicitor to the mortgage conveyancer (unless you want one), as they can do it all for you.

If all parties agree

It can take as little as a day to get approved and a full application in if you have your documents ready.

If the person you want off the mortgage doesn’t agree

Then really your options are a legal challenge, which can of course be costly for all, so is best avoided! Often this results in the property being sold, but at some point, one or both of you need to compromise.

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The mortgage process

The mortgage can also be surprisingly simple to sort. First, you would review your current mortgage and determine whether it’s sensible to look at other lenders or stay with your current deal. If you are not tied into a current deal, or if the repayment penalties make it worthwhile, you should consider switching to another lender regardless – it could be far cheaper if you get a better rate elsewhere.

The process is much like a remortgage for a better deal, and involves a new application (even if you’re keeping the same mortgage), as the lender needs to assess that whoever remains on the mortgage is both creditworthy and can afford it on their own. The lender will need to know your current situation, current income and current credit history to ensure they’re lending responsibly.

They will review your credit records, and usually ask for bank statements and payslips / self-employed proof of income (tax calculations, accounts etc.), and may even send someone out to re-value the property (new lenders are more likely to do this).

The process of applying with a different lender is not really any different than staying where you are, other than it can take slightly longer if they need to value the property.

If you’re approved

Then happy days; the solicitors will send you the paperwork, and when all the docs are in and signed by you and the other parties being removed, they’ll let the lender know to complete. It can go through in a month if all is straightforward.

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If you are declined

By your current lender (usually, this is due to credit score or affordability, i.e. your income is not deemed acceptable or enough to pay the mortgage on your own), then don’t panic; there may be other lenders who are happy to offer you the mortgage – remember all lenders are different and some are much more generous than others (lending up to and over 5x income or higher in certain circumstances).

You’ll have the best chance of getting advice from a mortgage expert, who knows the market and specialist areas to help (make an enquiry and we’ll get you to one!).

Whether it’s through divorce, death or a change in your personal circumstances, when it comes to removing a name from a joint mortgage, you’ll need to complete a transfer deed.

It is possible to remove a name from the mortgage and add a new wife, husband or partner to the mortgage as part of the same Transfer of Equity if someone else is joining the mortgage, of course.