Include your spouse in your property’s deed if you have married or remarried
Note: If there are no mortgages on the property, the existing and new owners of the property sign the transfer deed in the presence of a witness and the conveyancer registers the transfer deed at the Land Registry. A stamp duty certificate is needed if the value of the transaction is above £40,000.
If there is a mortgage on the property, the consent of the mortgage lender is needed before proceeding with the transfer because if you are including someone to the title, they will become equally liable for the mortgage. It goes the same way If you are excluding someone from the title, the liability will be passed on to the remaining owners of the property. The remaining owners will be checked by the mortgage lender if they are able to maintain mortgage payments before agreeing to the transfer.
As your conveyancer, we will get in touch with the mortgage lender and request written consent to the transfer. The mortgage lender may want to make amendments to the terms of the mortgage before agreeing. The process can continue once the written consent is received. However, if the mortgage lender did not give their consent for the transfer, you have to repay the mortgage before continuing with the transfer either with a cash payment or acquiring a mortgage with a different lender who approves the transfer.
Our doors are always open for you, come at any time and have a cup of tea with us!