Mortgage help!

[duster123]

Hi,

A few years ago my brother asked me to help him out with his mortgage as he was struggling at the time with the payments. We contacted the lender and solicitors and my name was put onto the mortgage. However now the situation has arose where i am looking for my own place and would like to have my name taken off the mortgage. The problem is he has been out of work for 9 months and is self employed. Can anyone tell me what the likelihood of the lender allowing him to maintain the mortgage and taking my name off it..

Thanks D

[granny grump]

They will only let him take the mortgage in his sole name if he can make the repayments and from what you have said duster it doesn't look good at the moment - until such time as he can you are both jointly and severally responsible for payments

[tonywiltshire]

As gg says the mortgage provider will only be interested in obtaining payment and at present they have two people to pursue and will not want to reduce this to one. If you have the agreement of the other named party you will need to demonstrate to your mortgage provider that the other party has the ability to make the payments on their own, even then you may have some difficulty.