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Transfer of equity

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  • Transfer of equity

    The morgage is a residential mortgage
    Me and my brother are on the morgage. My wife and 4 children also live in the same house. My brother has moved out and I have seperated from my wife. I have moved to a different address. I would like to remove my brothers name from the mortgage. I'm scared the morgage company may not approve a new residential mortgage because I no longer live there, my wife and children live there only now.Do you think my seperation will affect my new residential mortgage. Thanks

  • #2
    Hi there,

    When you take out a residential mortgage, it's meant for you and/or your close family members. Your wife and children certainly fall into the close family member category, so yes, you could get a residential mortgage in your name for that property even if you don't live there. Of course, it's subject to your income and outgoings, i.e. affordability, but in theory it's possible.

    If you'd like to call us for a free, no-obligation discussion, please feel free to call us on 0208 835 7036

    We are an independent whole of market mortgage brokers based in Streatham, South London. We have access to all mortgage lenders and can help secure the best mortgage deal based on your circumstances.
    I am a Mortgage Advisor
    For further information and for tailored advice:
    [email protected]

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