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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 and circumstances of everyone you want to be named on the mortgage to make sure it’s still affordable – just like applying for a new mortgage. 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 us1 to book an appointment with a mortgage adviser. Lines are open all day, every day – except during bank holidays and the Christmas period, when lines may be closed at off-peak times.

Call 0800 197 1081