Split up with partner - what happens with apartment?

Recently bought an apartment with my partner for approx 450k.

However, unfortunately we have split up. I intend on holding onto the apartment but how easy/difficult is it for me to take her off the mortgage/Deeds?

On my own I would qualify for a mortgage of approx 300k - I can afford to make the repayments on the mortgage as long as I use the Rent a Room Scheme and I have a pal willing to move in immediately.

Is it just a matter of increasing my Life Assurance and asking the bank to take her off the mortgage and/or Deeds or is it much more complicated than that?

Any advice would be great folks - thanks.

If you want to take over the mortgage you will need to show that you can afford the whole mortgage on your own salary.

Hi wanderer33,

There are several threads with info on this if you do a search.

Having been through this, I found I had to get a new mortgage and transfer the title, which means doing pretty much the same sort of stuff as if you were buying again. i.e brokers, solicitors, valuers etc all have to become involved. As NorfBank said you will have to be able to afford the mortgage on your own merit.

I didn't have to pay stamp duty on the purchase of her share, but I am not entirely sure if that would apply to every type of situation like this.

/MN

If your ex-partners name is on the deeds, you will defintely need some kind of legal document stating that she/he is has no entitlement to the property otherwise they could come back at any time in the future and stake a claim in the property, I would see a solicitor if I were you.