Can I Transfer My Mortgage to Someone Else? Clear Guide to What’s Possible

It’s more common than you might think for homeowners to ask, “Can I transfer my mortgage to someone else?” This usually comes up during major life changes such as separation, new partnerships, inheritance situations or wanting to remove yourself from a joint mortgage.

While transferring a mortgage is sometimes possible, lenders set strict criteria and the process can be more complex than it first appears.

This guide explains what lenders allow, how the process works, who can take over a mortgage and the checks involved. This article provides general information only and does not offer regulated mortgage advice.

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Can You Transfer a Mortgage to Someone Else?

In most cases, yes — but only if the lender agrees.
The process is known as a Transfer of Equity (TOE). It involves changing the names on the mortgage and property title while keeping the mortgage product itself.

You cannot simply “hand over” a mortgage to another person. The lender must check that the new person taking ownership can meet affordability, credit and legal requirements.

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When Can You Transfer a Mortgage?

Lenders will normally consider a Transfer of Equity in the following situations:

1. Separation or Divorce

One partner may stay in the home and take full responsibility for the mortgage.

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2. Adding a New Partner to the Mortgage

A new joint owner may be added to the mortgage and property deeds.

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3. Removing a Family Member From Ownership

For example, if a parent originally joined as a joint borrower to help with affordability.

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4. Transfers for Inheritance or Family Arrangements

Property may be transferred to children or relatives, sometimes with a concessionary element.

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5. Buying Out a Joint Owner

One party takes over full ownership and the other is released from the mortgage.

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In every scenario, lender approval is essential.

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When Can’t You Transfer a Mortgage?

Lenders normally refuse a transfer when:

• The new owner does not meet affordability rules
• The new owner has poor credit history
• There is insufficient income to support the existing mortgage
• The property type does not meet lender requirements
• There is an unresolved legal or financial dispute

Some lenders also decline transfers involving new owners they consider unrelated to the original borrower unless there is clear legal justification.

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What Checks Do Lenders Carry Out?

Even though a Transfer of Equity uses your existing mortgage product, lenders treat the assessment almost like a new application.

1. Affordability Assessment

The person taking over the mortgage must meet:

• Income criteria
• Outgoings checks
• Stress-tested affordability models

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2. Credit Checks

Lenders review:

• Credit score
• Payment history
• Any adverse credit (defaults, CCJs, missed payments)
• Current borrowing and credit utilisation

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3. Bank Statement Review

Typically 3–6 months, checking for:

• Stable income
• No unarranged overdrafts
• Returned direct debits
• Excessive spending patterns

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4. Legal Checks

Solicitors must update:

• Property title
• Ownership percentages
• Any legal documents related to the transaction

Stamp duty may apply on some transfers, depending on the circumstances.

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5. Property Valuation (Sometimes Required)

The lender may:

• Use an automated valuation, or
• Request a physical inspection

This ensures the property still meets lending criteria.

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What If the New Person Doesn’t Meet Affordability?

If the person taking on the mortgage cannot meet the lender’s affordability test, you usually have two options:

Option 1: Switch to a Joint Borrower Arrangement

A family member or partner may join the mortgage to support affordability.

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Option 2: Remortgage to Another Lender

Another lender may offer:

• A different affordability model
• A more flexible assessment
• A joint borrower sole proprietor (JBSP) solution
• A longer mortgage term to reduce monthly payments

Remortgaging does mean changing products, so early repayment charges may apply.

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Does It Cost Money to Transfer a Mortgage?

Yes — typically you will have to pay:

• Lender administration fees
• Solicitor or conveyancing fees
• Possible valuation fees
• Stamp duty (in certain circumstances)

Costs vary depending on lender and legal complexity.

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Who Commonly Takes Over a Mortgage?

1. Ex-Partners

One person retains the property after separation.

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2. New Partners

Added to support affordability or to share ownership.

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3. Adult Children

In family arrangements, such as concessionary transfers or inheritance planning.

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4. Family Members

Helping to keep a property within the family.

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In all cases, the person taking over ownership must pass lender checks.

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Can You Transfer a Mortgage If You Have Bad Credit?

It depends on:

• How recent the bad credit is
• Type of adverse (defaults, missed payments, CCJs)
• Deposit level or equity in the property
• Strength of income
• Lender’s criteria

Some lenders may allow a transfer despite older adverse credit if the applicant shows strong recent financial conduct.

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How to Improve Your Chances of Approval

(General Information Only)

1. Strengthen Bank Statement Conduct

Avoid:

• Unarranged overdrafts
• Returned payments
• Irregular spending

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2. Reduce Credit Balances

Lower utilisation improves affordability and lender confidence.

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3. Check Your Credit File

Ensure accuracy across:

• Experian
• Equifax
• TransUnion

Correct any errors before applying.

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4. Gather Documents Early

Including:

• Payslips
• Tax documents (if self-employed)
• Bank statements
• Identification
• Equity or valuation details

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5. Consider Increasing the Mortgage Term

This can reduce payments to meet affordability thresholds, though overall interest costs may be higher.

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6. Build More Equity

If possible, overpayments may increase available options later.

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Example Scenarios

Scenario 1: Removing an ex-partner

A clean credit file and adequate income allow the remaining borrower to take full ownership.

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Scenario 2: Adding a new partner

Both incomes may support affordability and improve borrowing capacity.

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Scenario 3: Family concessionary transfer

A parent transfers part-equity to a child; lender approval needed plus full solicitor involvement.

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Scenario 4: Applicant has some older adverse credit

Some specialist lenders may still approve with strong affordability.

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Summary

So, can I transfer my mortgage to someone else?
Yes — but only with full lender approval via a Transfer of Equity. The new owner must meet affordability checks, pass credit assessments and complete legal processes before they can be added or removed from the mortgage.

Lenders focus on:

• Income stability
• Credit history
• Bank statement conduct
• Property valuation
• Legal documentation

With strong preparation, many homeowners successfully complete a transfer of ownership and continue with their existing mortgage product.

This article provides general information only. For personalised guidance, regulated mortgage advice is required.