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    helens's Avatar
    helens Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 10, 2008, 06:13 AM
    Adding Someone to the mortgage
    My fiancé is selling his home to move in with me and I wanted to add his name to the mortgage. I have asked the Mortgage provider who says we need a solicitor for a Transfer of Equity. What does this entail?? As his name is on the mortgage does it have to put on the deeds.

    Thanks
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
    Ultra Member
    		  
    #2

    Apr 10, 2008, 07:39 PM
    Welcome to AMHD. What country or state? It sounds as though your mortgage provider is saying you need a solicitor to prepare a deed that will make you joint owners, as well as joint borrowers. Generally speaking, if his name were not on the deed (owner), then it would not be in your fiance's interest to be on the mortgage (borrower).
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #3

    Apr 11, 2008, 05:41 AM
    Hello helens:

    You want to GIVE him half the equity in your house?? That's pretty nice of you. You know, once you give it to him, and it doesn't work out, it's HIS!

    But, in any case, you're going to need the services of a real estate attorney to do this properly.

    excon
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Apr 11, 2008, 06:22 AM
    By you use of the term solicitor I suspect you are in the UK. What seems that the mortgage company is suggesting is that you essentially give your fiancé a half interest in your house. Do you really want to do that?
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