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transfer of mortgage

transfer of mortgage

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Old Aug 11th 2006, 9:49 am
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Default transfer of mortgage

can anyone help? my friend has bought her 2nd home in spain and we have decided to buy it from her, however we were going to transfer the mortgage from her name in to mine, does anyone know if this is cheaper to do rather than take out a new mortgage
thanksx
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Old Aug 11th 2006, 2:25 pm
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Default Re: transfer of mortgage

Originally Posted by utookmylove
can anyone help? my friend has bought her 2nd home in spain and we have decided to buy it from her, however we were going to transfer the mortgage from her name in to mine, does anyone know if this is cheaper to do rather than take out a new mortgage
thanksx
I have just removed my name from a mortgage and replaced it with my girl friend it cost about 8000 euros on a 180,000.00 euro mortgage with the banco de andalucia.
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Old Aug 11th 2006, 2:29 pm
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Default Re: transfer of mortgage

Originally Posted by utookmylove
can anyone help? my friend has bought her 2nd home in spain and we have decided to buy it from her, however we were going to transfer the mortgage from her name in to mine, does anyone know if this is cheaper to do rather than take out a new mortgage
thanksx
Definately cheaper. Doing it that way you avoid having to pay comission to the bank for opening a new mortgage as well as avoinding several other hidden charges too.
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Old Aug 11th 2006, 2:29 pm
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Default Re: transfer of mortgage

Originally Posted by no lecee jon
I have just removed my name from a mortgage and replaced it with my girl friend it cost about 8000 euros on a 180,000.00 euro mortgage with the banco de andalucia.
it also include all the tax and fees
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Old Aug 11th 2006, 3:17 pm
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Default Re: transfer of mortgage

Originally Posted by no lecee jon
I have just removed my name from a mortgage and replaced it with my girl friend it cost about 8000 euros on a 180,000.00 euro mortgage with the banco de andalucia.
Hi,
Blimey thought it would be a little cheaper never mind ha ha, also how long did it take and does the bank still need payslips etc so they know you can afford it
thanks
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Old Aug 11th 2006, 6:12 pm
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Default Re: transfer of mortgage

Originally Posted by utookmylove
Hi,
Blimey thought it would be a little cheaper never mind ha ha, also how long did it take and does the bank still need payslips etc so they know you can afford itj
thanks
yes to pay slips, it doesn't take long once you have got a booking with the local notary
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