• Transfer Of House To Sister

    By Guest on 08th Nov 2015

    I wish to transfer house to sister as I cant really afford it anymore. The house has negative equity and sister has agreed to take over. Can I do this and is it TR1 form? Also can the mortgagee be transferred or does my sister need to make a mortgagee application? The house was bought in 2006 at £115000 and its current value is £89000 - mortgage outstanding £95000.

  • 1 Answers

    By Guest on 09/11/2015

    Your sister will have to buy the property from you for at least the value of the mortgage. It is unlikely she will get a mortgage for more than 90% of the value (so £80,000) however.

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