• Transfer Of Equity Then Mortgage

    By Guest on 27th Mar 2015

    I am looking into transferring a property which I own, it has never been a rental property and for a time was a private residence. It is now a second home. After purchasing and renovation cost it's worth is about £90,000. At a market value of £90,000 the profit is negligible and I have documents to prove the costs associated.

    The property is jointly owned by myself and my wife and we would like to transfer the property to our son. There is currently no mortgage on the property however I would like my son to be the sole legal owner of the property with no ties to us. The aim is for my son to then secure a BTL mortgage against the property.

  • 1 Answers

    By Guest on 13/10/2016

    There is no reason you can't do the transfer to your son. He will probably have to be registered as owner for 6 months before mortgaging it.

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