Last updated: 10th February 2026
Can you transfer a mortgage to a family member? Yes, you can transfer a mortgage to a family member, but it is not as simple as handing over a deed. In the UK, this is legally known as a Transfer of Equity. To carry this out, your lender must approve the new person’s affordability, and a solicitor must update the property’s title deeds.
Many homeowners in the UK are opting for a mortgage transfer as it can be easier to manage ownership or to pass on the home without selling it outright. Recent data shows that family support is no longer just for first-time buyers; nearly 1 in 5 homeowners (19%) now report receiving financial assistance from family or friends to manage their property ownership or move to their next home.
Let’s explore how you can transfer a mortgage to a family member with ease.
What is a Mortgage Transfer? And What Factors You Need to Consider Before You Transfer?
A mortgage transfer means shifting your existing mortgage to someone else, often to a family member. This is common if you want to add someone to your mortgage, pass property to a loved one, or adjust ownership due to changes in relationships, like divorce or inheritance.
There are three main ways people transfer mortgages:
- Transfer of Equity: Adding or removing a person from the mortgage.
- Mortgage Porting: Moving your existing mortgage rate to a new property.
- Product Transfer: Switching to a new interest rate with your current lender.
To make this happen, the person taking over your mortgage must qualify with the lender. This includes meeting criteria for income, credit history, and overall financial health. Before you proceed, make sure you’re ready for the commitments involved. Both your current lender and a mortgage broker will assess your suitability for the transfer.
Following are the key points you need to keep in mind:
- Affordability: Assess whether you or the person receiving the mortgage can afford the proposed mortgage payments. If you or the person receiving the mortgage has experienced financial difficulties such as defaulted payments, this can significantly impact eligibility. The new mortgage terms should fit comfortably within your budget.
- Equity in Your Current Mortgage: Check the amount of equity in your current mortgage. This equity impacts what you can transfer and whether the lender will approve the deal.
- Credit History: Good credit history is crucial for getting lender approval. If there are credit issues, it may make transferring the mortgage more challenging.
- Property Condition: The property itself matters. Its construction type, market value, and condition will influence whether lenders agree to the mortgage transfer.
- Employment Situation: Your employment status affects the transfer. If you are self-employed or have unstable income, it may require extra verification. Recent changes, such as going on maternity leave, can also impact the transfer’s viability.
- Additional Costs: There are costs associated with equity transfers, including legal fees, lender fees, and administrative charges.
- Stamp Duty Land Tax: Depending on the market value of the property being transferred, stamp duty land tax (SDLT) may be payable. If you’re gifting property to any of the family members, check if stamp duty is applicable.
- Early Repayment Charge: You might incur an early repayment charge if you transfer during a fixed-rate period. This should be factored into your costs.
- Credit Checks: The new owner or the added member will undergo credit checks to determine eligibility. These checks ensure that the lender is satisfied with the financial risk.
How to Transfer a Mortgage: Step-by-Step Guide
Transferring a mortgage to someone else, like a family member or a partner, requires both an ownership and financial responsibility change.
Below is a clear, step-by-step guide on how to handle a mortgage transfer smoothly:
Step 1: Negotiate a Remortgage or Apply for a New Mortgage
When the ownership of the property is shifting, you need to negotiate with your current lender. This could mean taking out a remortgage with the same provider or applying for a new mortgage with a different lender.
A new lender might offer better rates, but it usually involves more paperwork and time. To make an informed decision, consult a mortgage broker for tailored advice.
Step 2: Hire a Conveyancer for Legal Support
To manage the legal process of transferring the mortgage and changing property ownership, you’ll need a conveyancer or solicitor. If you’re adding someone to the title deeds, one conveyancer can represent both parties.
However, if you’re removing someone, such as an ex-partner, each party must have independent legal representation.
Step 3: Verify Everyone’s Identity
Every individual involved must provide proof of identity, such as a passport or driver’s license. If a partner is being removed, the conveyancer will also need to verify the source of funds being used for the buyout.
Step 4: Complete All Legal Documentation
The conveyancer will handle all legal documents related to the mortgage transfer. This involves communicating with the lender and, if required, the freeholder of the property. They will make sure all paperwork meets legal standards and requirements.
Step 5: Finalise the Transfer
Once everything is ready, the conveyancer will arrange for signing the mortgage deed. Any funds for buying out a partner or family member will also be transferred at this stage. If someone is being removed from the mortgage, they must sign an ID1 form in front of a witness.
Step 6: Register the Changes with Land Registry
After the mortgage transfer is complete, your conveyancer will update the Land Registry with the new ownership details. They will also calculate and handle the payment of any stamp duty owed to HMRC. Once these steps are completed, the new ownership will be officially recorded.
How Much Does It Cost to Transfer a Mortgage?
Transferring a mortgage involves several costs, including legal fees, lender fees, and stamp duty. Here’s what you need to know:
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- Legal Fees: You will need to hire a solicitor to manage Transfer of Equity, including updating the title deeds and handling all necessary paperwork. The cost of legal fees can vary depending on the complexity of the mortgage transfer and the solicitor’s rates. Expect to pay between £500 and £1,000 + VAT, depending on the complexity.
- Lender Fees: The lender may charge an administrative fee (typically £100–£300) to process the transfer of equity. These fees can include valuation charges or other administrative costs that the current lender requires for transferring the mortgage to a new party.
- Stamp Duty: Depending on the market value of the property and the nature of the transfer, you might have to pay stamp duty. Stamp duty is often applicable when buying out a partner or ex-partner’s share, particularly if the amount exceeds certain thresholds set by the government. Transfers between married couples or those in a civil partnership may be exempt from stamp duty, but it’s essential to verify current rules.
- Early Repayment Charges (ERCs): If you are mid-way through a fixed-rate deal, transferring the mortgage might technically require ending the old contract and starting a new one. This could trigger an ERC, which is often 1%–5% of the total loan balance. Always check if your lender will allow a “Transfer of Equity” while keeping your current rate to avoid this.
Each cost can add up, so it’s wise to plan ahead and understand the full financial commitment involved in a mortgage transfer. Working with a solicitor and consulting your lender will ensure that you’re prepared for all aspects of the transfer.
How to Convert a Single Mortgage to a Joint Mortgage with a Family Member?
If you want to convert your single mortgage to a joint mortgage with a family member, it’s important to understand the process. This lets them share property ownership and mortgage duties without a full transfer of equity.
Eligibility and Requirements
To add a joint owner, the lender will assess their credit history, income, and financial stability. Any credit issues or unstable income, like being self-employed, might affect approval.
Mortgage transfers also depend on the age limit of the person receiving the mortgage. Many lenders have age limits that could influence whether a transfer is approved. You’ll also need to cover legal fees for updating property deeds.
Benefits
- Shared Financial Burden: Adding a family member can make mortgage payments more manageable.
- Improved Mortgage Terms: Combined incomes may improve your loan-to-value ratio and get you better interest rates.
Drawbacks
- Separation Complications: If the relationship changes, managing ownership and transferring equity can become difficult.
- Refinancing Costs: Changes may trigger early repayment charges if you need to refinance.
How to Turn a Joint Mortgage into a Single Mortgage?
To convert a joint mortgage into a single mortgage, you need to remove a family member from the mortgage. The current lender will check if the remaining owner can manage the mortgage payments independently, assessing income and credit history.
Key Considerations:
- Affordability: Prove that you can afford the outstanding mortgage alone.
- Credit Checks: Lenders will evaluate your financial stability to qualify for the single mortgage.
- Legal Advice: Seek independent legal advice to understand the implications. You might face early repayment charges if changes occur during a fixed-rate period.
If you are looking to adjust your mortgage but prefer not to go through the full process of transferring it, porting your mortgage might be a viable option. Porting allows you to move your existing mortgage to a new property while keeping the same terms.
Frequently Asked Questions
Can a mortgage be transferred to another person?
Yes, but the lender will treat it as a new application. The person receiving the mortgage must meet all credit and income requirements to ensure they can afford the debt.
Can I buy my partner out of a joint mortgage? And how does the mortgage buyout process work?
Yes, you can buy out your partner. This is a common way to handle a separation or divorce without selling the family home. It involves removing your partner’s name from both the mortgage and the property title deeds so that you become the sole legal owner and borrower.
This legal process is called a Transfer of Equity. First, you must get your lender’s consent; they will perform a new affordability check to ensure you can manage the full mortgage payments alone. Once approved, a solicitor drafts a Transfer Deed to officially change the ownership at the Land Registry.
What is a mortgage product transfer? And can you be declined for a product transfer mortgage?
A product transfer is when you switch to a new mortgage deal with your existing lender (e.g., moving from a fixed rate that is ending to a new 2-year fix). This is usually faster than a full remortgage because no new legal work is required.
While rare, you can be declined if you have significant recent credit defaults, have entered into a debt management plan, or if the lender has changed their internal risk criteria.
Will a transfer of equity change my mortgage rate?
Not necessarily. If you are staying with the same lender, you may be able to keep your current rate. However, if you are forced to remortgage to a new lender to facilitate the transfer, your rate will change.
Can I transfer my credit card balance to my mortgage?
This is known as debt consolidation. While possible, it involves releasing equity from your home to pay off the card. It may lower your monthly payments but will likely increase the total interest you pay over the life of the loan.
How long does it take for mortgage funds to transfer?
For a standard transfer of equity or remortgage, the process typically takes 4 to 8 weeks, depending on the speed of the solicitors and the lender’s valuation.
The Bottom Line
Transferring a mortgage to a family member or partner can be a strategic choice for making finances more manageable. However, it’s essential to recognise that such decisions come with long-term implications. Whether you’re giving a family member a share in ownership or keeping the home in the family, careful planning is crucial to address legal and tax considerations.
Minimise the time, money and wasted rejections. Give us a call on 03300 432428, or fill in our simple online contact form and a member of the specialist team will be in touch to discuss your options and get the ball rolling.
