Change your mortgage by adding or removing someone

What to do if your personal situation changes

We'll help you check that your mortgage is still affordable if you want to change who’s responsible for the payments. 

Your home may be repossessed if you do not keep up repayments on your mortgage.

What is a transfer of equity?

Understanding your change

When you applied for your current mortgage, we looked at your income and spending commitments to make sure you could afford the repayments. Changing the people who are responsible for the payments, also known as a transfer of equity, means we need to make sure that you’re not overstretching your finances. It also helps you make sure you can afford the payments now and in the future.

A new mortgage contract

A transfer of equity means you're changing the people who are legally responsible for paying off the mortgage. So we’ll need to look at the income, financial commitments, location and circumstances of everyone you want to be named on the mortgage – this is to make sure it’s still affordable, and that everyone who’s applying to be added to the mortgage is eligible. During your appointment, we’ll discuss whether a new rate, or even a new mortgage type, may be better for your new needs. 

What you need to do

Book a mortgage appointment with us – you should also start gathering documents that support your income and spending, like payslips, utility bills and details of loans or credit agreements. You might need to ask a solicitor or conveyancer to check that everything is in good legal order before confirming any changes. In fact, we recommend that you get some legal advice to make sure your interests are protected.

Your next step

Book an appointment

Please call us1to book an appointment with a mortgage adviser. Lines are open Monday to Friday from 7am to 8pm, and from 7am to 5pm at weekends.

Call 0333 202 7580