morgages

[shadrack]

does anyone know if you have a morgage in joint names if its possible to easily remove one of the names? or would it have to be re done which would take me off my 1.5% rate so wouldnt really fancy it!

[X5Sport]

It is possible, but you usually have to get a load of legal stuff done, so there will be a wee solicitors bill. Might have to get the Land Registry involved too if both names are on the deeds. Your Mortgage Company will tell you what needs doing.

We want to do it the other way around and add another name to the deeds etc. Land Registry muttered about Stamp Duty and the Bank wanted about £600 for the legal work. It didn't require a 'start again' though.

[pvr]

Uh .. I was joking when I said that you needed to add me to your will

[X5Sport]

Sorry Darling......it's not you this time

[thedweeb]

[quote=""shadrack""]does anyone know if you have a morgage in joint names if its possible to easily remove one of the names? or would it have to be re done which would take me off my 1.5% rate so wouldnt really fancy it! [/quote]
You need to do a transfer of equity,which from what I can gather is not far off re-doing your mortgage. For example if you and your misses were on the original mortgage the risk factor and affordability would be worked out on both of you. If you decided to remove the misses you would need to re satisfy your lender you can afford the repayments, as far as staying on the same rate,I'm not too sure about that.
hope this helps