House deeds et al

[obriwan]

I currently have a mortgage in my sole name on a property I have owned and lived in with my wife and family for 5 years.

Unfortunately we are now seperating. We remortgaging (just at outstanding balance) the house, where my wife and family are going to continue to live - for speed this was going to proceed in just my name with the legal side covered in a seperation agreement - however her solicitor advises her against signing the owners declaration required to release the funds - therefore we are reapplying in joint names and making a new application which will therefore get her name on the deeds. My wife does not earn sufficient income as yet to take this mortgage on alone.

The intention will be after the 3 year tie in period to look to my wife to take the mortgage on in her sole name and put house into her name as part of the seperation agreement.

What are the cost and implications of any such transfers and are there any additional tax or legal implication to beware of?