The short answer is that yes you can take your brother and sister-in-law off the mortgage, and add your husband and other brother. This is known as a ‘Transfer of Equity’, where you are adding your husband and brother to the mortgage and deeds, and staying on yourself. You can either approach your existing lender for permission or you can look to remortgage to a new lender. The lender will look at the overall affordability of the loan and will take into consideration the level of income your huband and brother earn.
As part of the transfer you would need to take legal advice as to whether you should set the ownership of property up as ‘tenants in common‘ with a defined split between you, your husband and brother.
If you would like to discuss your enquiry in more detail, then please call 0808 271 4723 and we’ll arrange for you to speak to one of our consultants.
