Mortgage transfer

[gtdanes]

Is it possible for the current mortgage, that my wife and I have in joint names, being transfered into our daughter's name and the property transfered into her name. Or would she have to apply for a new mortgage to take over the ownership of the property.

[Oneeyedvic]

If you stood as guarantor's then the mortgage company may agree to transfer over the mortgage.

Far more likely that they will want her to take out a new mortgage

[Loosehead]

The lender will asses your daughter as if she is a new borrower and if on that basis they lend the money then they will require the comensurate land registry changes.

[lady_p_gold]

Just a thought ... would this not count as a capital gain for her or what about stamp duty .. in effect she would be a new owner ?????