Adding or removing someone for your Mortgage

We know that things can change, and you may wish to add or remove someone from your mortgage.

Adding or removing someone from your Mortgage

There are a few things you need to know to help get the process started. Select your mortgage product to view some of the questions we hear the most:

Do I have to take advice?

  • You must take advice to ensure this option is suitable for you.
  • We need to be sure you’re making the right choice for your individual circumstances.
  • A financial advisor will be able to talk you through your options in detail and apply on your behalf.
  • If you don’t have a financial advisor, Unbiased.co.uk is a good place to start your search.

What if I want to apply for Additional Borrowing at the same time? 

  • You must take advice.
  • Your financial advisor will need to submit a separate application form to apply for the Additional Borrowing at the same time as your transfer of equity application.

Do I need a solicitor? 

  • You’ll need to instruct a solicitor to act on your behalf. Your solicitor will prepare the transfer documents to change ownership of the property.
  • We’ll instruct solicitors to act on our behalf. Our solicitors will approve the transfer documents and will need to be satisfied with all matters relating to the title of the property.
  • You’ll incur the cost of both our and your solicitor.

Will I have to pay any fees?

  • You’ll need to pay our administration costs of adding or removing a party. This is £250.
  • This is non-refundable even if this application doesn’t go ahead.
  • We’ll need a valuation of your property and you may need to pay a fee for this depending on the property purchase price/value.
  • We’ll need a valuation of the property and if the property value is below £1m the valuation is free, if it is over £1m a fee will apply.
  • You’ll need to pay both our and your legal costs. Please contact your solicitor for details of the fees they charge.
  • You may need to pay your financial advisor for the cost of providing advice.
  • Please see our tariff of fees and charges.

How long does the process take?

  • Once we receive the application form and fees, it takes a few weeks to issue you with a mortgage offer. This depends on how quickly we receive an updated valuation of your property.
  • We may also ask your financial advisor for information so we can assess your ability to repay the loan. For example, if a party is being removed, to ensure the loan remains affordable for the remaining party.
  • Once our solicitor receives our mortgage offer to instruct them to act on our behalf, it could take up to three months to complete on the transfer of ownership.

How do I start the process?

  • Your financial advisor will need to send us a completed application form and our administration and valuation fees, if applicable.

What are my next steps?  

  • You should contact your financial advisor first.
  • If you don’t have a financial advisor, Unbiased.co.uk is a good place to start your search.
  • Your financial advisor will discuss all the options with you to make sure the decision is right for you.
  • If you decide to go ahead, your financial advisor will let us know and they’ll need to send us a completed application form, the administration fee, and your valuation fee, if applicable.

What happens next?

  • Once we’ve verified your ability to repay the mortgage, we’ll need an up-to-date valuation report. We may need a valuer to visit the property.
  • We’ll review the valuation report to assess your property and its current value.
  • If the valuation report is acceptable, we’ll issue a mortgage offer and will send this to you and to our solicitors to instruct them to act.
  • Your solicitor should then contact our solicitor to arrange for the transfer of ownership.

Will I have to repay my loan?

  • If you’re removing someone and the loan is no longer affordable for the remaining party, you’ll have to repay part of your loan.
  • No early repayment charges will apply if we ask you to repay some of your loan.

If I want to repay some of my loan, would I pay Early Repayment Charges?

  • Yes, if it’s your choice to repay part of your loan and you’re within the period where early repayment charges apply.

Do I have to take advice?

  • You must take advice to ensure this option is suitable for you.
  • We need to be sure you’re making the right choice for your individual circumstances.
  • A financial advisor will be able to talk you through your options in detail and apply on your behalf.
  • If you don’t have a financial advisor, Unbiased.co.uk is a good place to start your search.

What if I want to apply for Additional Borrowing at the same time? 

  • You must take advice.
  • Your financial advisor will need to submit a separate application form to apply for the Additional Borrowing at the same time as your Transfer of Equity application.

Do I need a solicitor?

  • You’ll need to instruct a solicitor to act on your behalf. Your solicitor will prepare the transfer documents to change ownership of the property.
  • We’ll instruct solicitors to act on our behalf. Our solicitors will approve the transfer documents and will need to be satisfied with all matters relating to the title of the property.
  • You’ll incur the cost of both our and your solicitor.

Will I have to pay any fees?

  • You’ll need to pay our administration costs of adding or removing a party. This is £250.
  • This is non-refundable even if this application doesn’t go ahead.
  • We’ll need a valuation of your property and you may need to pay a fee for this depending on the property purchase price/value.
  • We’ll need a valuation of the property and if the property value is below £1m the valuation is free, if it is over £1m a fee will apply.
  • You’ll need to pay both our and your legal costs. Please contact your solicitor for details of the fees they charge.
  • You may need to pay your financial advisor for the cost of providing advice.
  • Please see our tariff of fees and charges.

How long does the process take?

  • Once we receive the application form and fees, it takes a few weeks to issue you with a mortgage offer. This depends on how quickly we receive an updated valuation of your property.
  • We may also ask your financial advisor for information so we can assess your ability to repay the loan. For example, if a party is being removed, to ensure the loan remains affordable for the remaining party.
  • Once our solicitor receives our mortgage offer to instruct them to act on our behalf, it takes up to three months to complete on the transfer of ownership.

How do I start the process?

  • Your financial advisor will need to send us a completed application form and our administration and valuation fees, if applicable.

What are my next steps? 

  • You should contact your financial advisor.
  • If you don’t have a financial advisor, Unbiased.co.uk is a good place to start your search.
  • Your financial advisor will discuss all the options with you to make sure the decision is right for you.
  • If you decide to go ahead, your financial advisor will let us know and they’ll need to send us a completed application form, the administration fee, and your valuation fee, if applicable.

What happens next?

  • Once we’ve verified your ability to repay the mortgage, we’ll need an up-to-date valuation report. We may need a valuer to visit the property.
  • We’ll review the valuation report to assess your property and its current value.
  • If the valuation report is acceptable, we’ll issue a mortgage offer and will send this to you and to our solicitors to instruct them to act.
  • Your solicitor should then contact our solicitor to arrange for the transfer of ownership.

Will I have to repay my loan?

  • If you’re removing someone and the loan is no longer affordable for the remaining party, you’ll have to repay part of your loan.
  • No early repayment charges will apply if we ask you to repay some of your loan.

If I want to repay some of my loan, would I pay Early Repayment Charges?

  • Yes, if it’s your choice to repay part of your loan and you’re within the period where early repayment charges apply.

Do I have to take advice?

  • You must take advice to ensure this option is suitable for you.
  • We need to be sure you’re making the right choice for your individual circumstances.
  • A financial advisor will be able to talk you through your options in detail and apply on your behalf.
  • If you don’t have a financial advisor, Unbiased.co.uk is a good place to start your search.

What if I want to apply for Additional Borrowing at the same time? 

  • You must take advice.
  • Your financial advisor will need to submit a separate application form to apply for the Additional Borrowing at the same time as your Transfer of Equity application.

Do I need a solicitor? 

  • You’ll need to instruct a solicitor to act on your behalf. Your solicitor will prepare the transfer documents to change ownership of the property.
  • We’ll instruct solicitors to act on our behalf. Our solicitors will approve the transfer documents and will need to be satisfied with all matters relating to the title of the property.
  • You’ll incur the cost of both our and your solicitor.

Will I have to pay any fees?

  • You’ll need to pay our administration costs of adding or removing a party. This is £250.
  • This is non-refundable even if this application doesn’t go ahead.
  • We’ll need a valuation of your property and you may need to pay a fee for this depending on the property purchase price/value.
  • We’ll need a valuation of the property and if the property value is below £1m the valuation is free, if it is over £1m a fee will apply.
  • You’ll need to pay both our and your legal costs. Please contact your solicitor for details of the fees they charge.
  • You may need to pay your financial advisor for the cost of providing advice.
  • Please see our tariff of fees and charges.

How long does the process take?

  • Once we receive the application form and fees, it takes a few weeks to issue you with a mortgage offer. This depends on how quickly we receive an updated valuation of your property.
  • We may also ask your financial advisor for information so we can assess your ability to repay the loan. For example if a party is being removed, to ensure the loan remains affordable for the remaining party.
  • Once our solicitor receives our mortgage offer to instruct them to act on our behalf, it takes up to three months to complete on the transfer of ownership.

How do I start the process?

  • Your financial advisor will need to send us a completed application form and our administration and valuation fees, if applicable.

What are my next steps?  

  • You should contact your financial advisor.
  • If you don’t have a financial advisor, Unbiased.co.uk is a good place to start your search.
  • Your financial advisor will discuss all the options with you to make sure the decision is right for you.
  • If you decide to go ahead, your financial advisor will let us know and they’ll need to send us a completed application form, the administration fee and your valuation fee, if applicable.

What happens next?

  • We’ll need an up-to-date valuation report. We may need a valuer to visit the property.
  • We’ll review the valuation report to assess your property and its current value.
  • If the valuation report is acceptable, we’ll issue a mortgage offer and will send this to you and to our solicitors to instruct them to act.
  • Your solicitor should then contact our solicitor to arrange for the transfer of ownership.

Will I have to repay my loan?

  • If you want to add someone to the loan and they’re younger than you, you may need to repay part of your loan to meet our eligibility criteria.
  • No early repayment charges will apply if we ask you to repay some of your loan.

If I want to repay some of my loan, would I pay Early Repayment Charges?

  • Yes, if it’s your choice to repay part of your loan and you’re within the period where early repayment charges apply.

Do I have to take advice?

  • You must take advice to ensure this option is suitable for you.
  • We need to be sure you’re making the right choice for your individual circumstances.
  • A financial advisor will be able to talk you through your options in detail and apply on your behalf.
  • If you don’t have a financial advisor, Unbiased.co.uk is a good place to start your search.

What if I want to apply for Additional Borrowing at the same time? 

  • You must take advice.
  • Your financial advisor will need to submit a separate application form to apply for the Additional Borrowing at the same time as your transfer of equity application.

Do I need a solicitor? 

  • You’ll need to instruct a solicitor to act on your behalf. Your solicitor will prepare the transfer documents to change ownership of the property.
  • We’ll instruct solicitors to act on our behalf. Our solicitors will approve the transfer documents and will need to be satisfied with all matters relating to the title of the property.
  • You’ll incur the cost of both our and your solicitor.

Will I have to pay any fees?

  • You’ll need to pay our administration costs of adding or removing a party. This is £350.
  • This is non-refundable even if this application doesn’t go ahead.
  • We’ll need a valuation of your property and you may need to pay a fee for this depending on the property purchase price/value.
  • We’ll need a valuation of the property and if the property value is below £1m the valuation is free, if it is over £1m a fee will apply.
  • You’ll need to pay both our and your legal costs. Please contact your solicitor for details of the fees they charge.
  • You may need to pay your financial advisor for the cost of providing advice.
  • Please see our Schedule of Charges.

How long does the process take?

  • Once we receive the application form and fees, it takes a few weeks to issue you with a mortgage offer. This depends on how quickly we receive an updated valuation of your property.
  • We may also ask your financial advisor for information so we can assess your ability to repay the loan. For example, if a party is being removed, to ensure the loan remains affordable for the remaining party.
  • Once our solicitor receives our mortgage offer to instruct them to act on our behalf, it takes up to three months to complete on the transfer of ownership.

How do I start the process?

  • Your financial advisor will need to send us a completed application form and our administration and valuation fees, if applicable.

What are my next steps?  

  • You should contact your financial advisor.
  • If you don’t have a financial advisor, Unbiased.co.uk is a good place to start your search.
  • Your financial advisor will discuss all the options with you to make sure the decision is right for you.
  • If you decide to go ahead, your financial advisor will let us know and they’ll need to send us a completed application form, the administration fee and your valuation fee, if applicable.

What happens next?

  • We’ll need an up-to-date valuation report. We may need a valuer to visit the property.
  • We’ll review the valuation report to assess your property and its current value.
  • If the valuation report is acceptable, we’ll issue a mortgage offer and will send this to you and to our solicitors to instruct them to act.
  • Our solicitor should then contact your solicitor to arrange for the transfer of ownership.

Will I have to repay my loan?

  • If you want to add someone to the loan and they’re younger than you, you may need to repay part of your loan to meet our eligibility criteria.
  • No early repayment charges will apply if we ask you to repay some of your loan.

If I want to repay some of my loan, would I pay Early Repayment Charges?

Yes, if it’s your choice to repay part of your loan and you’re within the period where early repayment charges apply.

Important Documents

Contact us

If you have any other questions, please contact us using the details below or speak with your adviser.

Call us

0800 731 4076

Our phone lines are open Monday – Friday  9am – 5pm.