My partner and I are separating, how easy is it to remove a name from a mortgage?

My partner and I are splitting up and we have three buy-to-let houses.  She is keeping the house we lived in together, which has no mortgage, and I will move into the smaller of the buy-to-let houses and continue to rent out the other two.  We have decided to split the properties so we have one buy-to-let house each. Therefore we need to take each other’s names off the deeds and mortgages but is that all we need to do, are there any other complications which this arrangement? I work full time and earn over £25,000 but my ex-partner works part-time at the moment and earns much less than that.

To remove a borrower from the title deeds, you will have to seek permission from your lender. Some lenders are very sympathetic, especially if the remaining owner meets the lending criteria. However, you should know that some lenders are less comfortable about doing this, and reserve the right to say no. If this is the case, you might need to remortgage the property with a new lender. Form what you have said, I don’t foresee that you will have any problems but if you do, it would be worth speaking to a broker. Feel free to get in touch if you would like some help. You can call us today on 0845 345 6788

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