Changing names on flat deeds

[LT]

I currently own a flat and my partner and I have recently bought a house together. We would like to become joint owners of the flat but the mortgage is not due to change for another 18 months. How can I put my partner on the deeds of the flat before changing the mortgage or selling the flat? And how much will it cost?

[Golden Shred]

As you have a mortgage it will all have to be done through your lender, so get in touch with them. They will call it "Transfer of Equity". They may require your partner to appoint a solicitor, this must be accepted. Sometimes Stamp Duty is payable - you can check this by phoning 0845 6030135 and putting your figures to them - whether or not in any case you will require a Stamp Duty Land Tax Certificate as otherwise the Land Registry cannot act so arrange for this whilst you are there. Your lender will charge between �500 - �850, and a separate solicitor if required will be �250 - �450.

[Vicci68]

A word of warning. Things might be OK with your partner now, but if things should change and relations deteriorate, if you don't safeguard your equity you will lose it or have to share it. Make a Declaration of Trust so any deposits, monies paid etc are recorded and if the flat is sold record how funds are distributed and to who. If you are happy for 50/50 fine, if yu are not, take steps to protect things. You just don't know what is around the corner, and where money is involved things can get sticky when you least expect it.