• Transfer Residential Property With Mortgage To A Sibling.

    By Guest on 23rd Jan 2017

    Hi I have a property I purchased approx 3 years ago. The property has a mortgage. How would I go about transferring the ownership for the remaining mortgage value.

  • 1 Answers

    By Guest on 26/01/2017

    You would have to treat this as a sale, with the price being the balance owing on the mortgage. You would need a solicitor and your sibling would need to be separately represented. If your sibling needs a mortgage then he/she will need to make a full disclosure of the facts to the lender. Some lenders will lend in these circumstances and others won't. It is unlikely that any lender would allow you to remain in the property however (if that's your intention)

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