Adding a Name to Your Mortgage or Removing One From It

A mortgage is a long-term financial commitment, and your situation will likely change over time. So you may find yourself in a position where you need to add a name to your mortgage, remove one, or transfer ownership to another person. 

Here we’ll explain the key steps of adding a name to an existing mortgage (and if there are fees), how to remove someone’s name, and how to carry out a transfer of equity with your mortgage to another person in the UK.

Can you change the names on your mortgage deeds?

Yes, it is indeed possible to add or remove a borrower from your existing mortgage without altering the amount borrowed. This process is known as a "change of borrower" or "transfer of equity." It allows you to update the names on your mortgage while keeping the loan amount the same.

To proceed, your lender will need to approve the change. They’ll reassess your financial situation—either to ensure the remaining borrower can maintain repayments alone or to confirm the new borrower is financially suitable. This evaluation is crucial, as it helps the lender determine the risk associated with the revised agreement.

Because there are both legal and financial implications—such as potential tax liabilities, legal fees, and administrative costs—it’s essential to follow the correct procedures. Engaging with a mortgage broker and legal professional can help ensure the transition is handled smoothly, and that you remain compliant with lender requirements and legal obligations.

Adding a name to an existing mortgage

If you're considering adding someone to your mortgage and property deeds, it's important to follow the correct legal and financial steps to ensure everything is properly handled. Below is a typical outline of the process, along with key points to keep in mind:

How to Add a Name to a Mortgage

Consult a mortgage expert:
Before approaching your lender, speak with a qualified advisor to determine whether this move is right for your situation. They can also explain the implications and alternative options if applicable.

Obtain lender approval:
Your lender will need to review the financial details of the person you're adding. This includes checking their credit history, income, and overall affordability to ensure they meet the eligibility requirements. Your broker can help you gather and submit the necessary documentation.

Engage a solicitor:
A solicitor will be required to manage the legal aspects, including amending the title deeds. You'll also decide whether to hold the property as joint tenants (equal ownership) or tenants in common (specific shares). Your advisor can recommend a solicitor if needed.

Complete a transfer of equity:
You'll need to complete the HM Land Registry's TR1 form (or TP1 in certain cases) to officially transfer equity and update the property's ownership record.

Update the mortgage deed:
Once everything is approved, your lender will revise the mortgage agreement to reflect the new borrower's inclusion.

What to Consider When Adding a Name to a Mortgage

Additional fees:
Adding someone to your mortgage often comes with extra costs. These can include solicitor and broker fees, and your lender may also apply an administration or arrangement fee for processing the change.

Affordability checks:
The lender will assess whether the new borrower can contribute to the mortgage repayments. While this may not be an issue if the current borrower can manage repayments alone, the new applicant’s financial situation will still be reviewed.

Credit checks:
All individuals being added to the mortgage will undergo a credit check. If the person has poor credit, this doesn’t necessarily mean rejection—your mortgage broker can explore alternative options and lenders that may be more accommodating.

Borrowing responsibility:
Adding a name means that the individual will share legal responsibility for the mortgage repayments. It also grants them ownership rights to the property, so this decision should be made carefully, particularly if involving a partner, spouse, or family member.

Tax implications:
Depending on the value being transferred and individual circumstances, there may be tax considerations such as Stamp Duty Land Tax (SDLT) or Capital Gains Tax (CGT). It’s advisable to consult a tax adviser to understand any liabilities that could arise.

Risk of lender rejection:
If your current lender declines the application to add a name, remortgaging with a new provider may be an option. A mortgage broker can assist in sourcing suitable alternatives that align with your needs.

Involving a mortgage broker from the outset is highly recommended—they can provide guidance tailored to your situation, help manage all paperwork, and liaise with lenders and solicitors to ensure a smooth process.

Joining Someone Else’s Mortgage: What You Need to Know

If you're being added to another person’s mortgage, it’s crucial to fully understand the legal and financial responsibilities you’ll be taking on. This isn’t just about helping with monthly payments—it involves shared liability and potential impacts on your broader financial profile.

Legal and financial responsibility:
Once your name is on the mortgage, you are jointly responsible for the repayments. If the other party fails to pay, you’ll still be liable for the full amount. This is a serious commitment, and you should be confident in your ability to contribute reliably.

Impact on credit status:
Being on a joint mortgage links your credit profile with the other borrower(s). Their financial behaviour can influence your own credit rating, which could affect your ability to borrow in future.

Tax considerations:
Your tax position could change once you become a joint borrower and legal co-owner of a property. It’s especially important to be aware of potential Stamp Duty Land Tax (SDLT) obligations if any money is changing hands, or Capital Gains Tax (CGT) implications if you already own other property.

Understand the arrangement fully:
The decision to join someone’s mortgage should not be rushed. Take time to understand all the implications and ask questions. A specialist mortgage broker can explain the terms clearly, cutting through the jargon often used by solicitors and lenders.

Working with a knowledgeable broker is highly recommended—they’ll help you assess whether joining the mortgage is the right step for you, ensure you understand your obligations, and support you through every stage of the process.

Removing someone’s name from a mortgage

The process of removing a name from a mortgage is quite similar to adding someone, but it often involves greater scrutiny of affordability—especially if the remaining borrower(s) must shoulder the full financial responsibility alone.

Here’s a step-by-step overview of how it works:

Speak to an expert broker:
Before contacting your lender, it's wise to consult with a mortgage broker. They can assess your situation, explain your options clearly, and confirm whether removing a name is the most suitable course of action.

Contact your lender:
With your broker’s support, you'll gather and submit the necessary paperwork. The lender will assess whether the remaining party can manage the mortgage repayments on their own. This is a key part of the approval process.

Consult a solicitor:
Legal support is crucial here. Your solicitor will ensure all documentation is correctly handled and advise on how best to proceed based on your circumstances. They'll also assist with updating the property’s legal ownership records.

Complete a transfer of equity:
To formally update ownership, a TR1 form (or TP1 in some situations) must be filed with HM Land Registry. This legal document transfers the relevant share of the property from one party to another.

Amend the mortgage deed:
If the lender agrees and refinancing isn’t required, they’ll update the mortgage deed to reflect the removal of the departing borrower.

Explore remortgaging if necessary:
If affordability becomes a concern—or if the lender won’t allow a simple transfer—you may need to remortgage. This could involve switching lenders or changing terms to ensure the mortgage remains affordable.

Using a broker throughout this process offers huge benefits. They can walk you through each stage, liaise with lenders and solicitors on your behalf, and even provide templates or sample letters to help streamline your application. Most importantly, they can explore all possible outcomes to help you achieve the result you need.

What to Consider When Removing a Name from a Mortgage

Removing someone from a mortgage isn't just a matter of updating paperwork—there are several important financial and legal considerations to bear in mind:

Affordability:
The most crucial factor is whether the remaining borrower(s) can afford to keep up with the mortgage repayments alone. Your lender will require updated income and expenditure details to assess this. If the affordability checks fail, you may need to consider remortgaging with another borrower, selling the property, or restructuring your finances.

Remortgaging costs:
If removing a borrower leads to a remortgage, be prepared for potential additional expenses. These may include:

• Early Repayment Charges (ERC) if you’re ending your current mortgage early

• Arrangement or admin fees charged by the new lender

• Legal costs and valuation fees

• Stamp Duty Land Tax (SDLT) in some cases (e.g., if equity is transferred as part of the arrangement)

• Capital Gains Tax (CGT) if the departing party is transferring ownership and the property isn’t their main residence

Other fees:
Even if a remortgage isn't required, there will still likely be:

1. Lender admin charges for updating the mortgage
2. Solicitor fees for handling the legal transfer of equity
3. Broker fees if you’re working with an adviser (though this can be a valuable investment given the complexity)
4. Tax considerations, which should be reviewed with a tax adviser to avoid unexpected liabilities

Removing a name from a mortgage is a significant financial and legal step. Consulting with a mortgage broker and solicitor ensures you're fully informed and protected throughout the process.

Removing a Name from a Mortgage After Separation or Divorce

One of the most common reasons for removing a name from a mortgage is following a divorce or separation. While it might seem like a straightforward task, it’s essential that everything is handled properly—both legally and financially—to avoid complications later on.

When removing a spouse or partner’s name from a mortgage, the process must be coordinated through both your conveyancing solicitor and divorce solicitor. These professionals ensure the transfer of ownership and financial responsibility is clearly documented and in line with the terms of the divorce settlement.

Failing to handle this step correctly could result in ongoing financial obligations or ownership claims from the person who is supposed to be removed from the property.

Can you transfer a mortgage to another person?

Transferring mortgage equity—commonly done to pass a property interest to a family member—is becoming more popular and is still technically referred to as a transfer of equity. This process involves changing the ownership structure of a property, with or without altering the mortgage.

Here’s a step-by-step guide on how it typically works:

Speak to a mortgage advisor:
Before starting the process, consult with a mortgage expert. They can assess your current and future financial situation, explain the implications of the transfer, and advise on whether this is the most appropriate option based on your goals.

Contact your lender:
Your existing lender must approve the transfer. They’ll conduct affordability and credit checks on the incoming party to ensure they meet lending criteria. If the person being added cannot meet the affordability tests, the transfer may not be approved.

Instruct a solicitor:
A solicitor is required to manage the legal documentation and ensure the ownership is transferred correctly. You’ll need to complete a TR1 form (or TP1 in some cases), which is submitted to HM Land Registry to officially record the change in ownership.

Obtain a valuation:
In a complete transfer of equity, a property valuation is typically necessary—especially if there’s a financial exchange involved. For example, if one party is buying out the other’s share or gifting part of the property, the valuation determines whether tax obligations (such as Stamp Duty Land Tax) may apply.

Complete the transfer:
Once all checks, legal documentation, and lender approvals are in place, the transfer can proceed. Timelines vary but generally range from three weeks to three months, depending on the efficiency of the lender and solicitor involved.

Final Notes:

• A transfer of equity does not necessarily release a party from the mortgage unless explicitly agreed with the lender.

• If equity is being gifted, Inheritance Tax and Capital Gains Tax considerations may apply—speak with a tax adviser for clarity.

• Using a mortgage broker and experienced solicitor from the outset helps avoid delays and ensures the process is handled accurately.

Transferring mortgage equity can be an effective way to restructure property ownership within a family or as part of a personal financial strategy—provided it’s managed with expert guidance.

Frequently Asked Questions