Taking name off mortgage

[highsvr]

Looking for opinions on best route here

I went guarantor for family member about 10 yrs ago. Looks like my name is on the mortgage ( don't know if it on the deeds also ?).
Now both happy for my name to come off, and these are scenarios I'm looking at.

Notether person meets criteria to have mortgage on own now.

- can we just ask bank to remove my name (can that be done without solicitor fees etc)
- do we need solicitor and associated costs (maybe 1.5k).
- if need solicitor is it better to just switch mortgage to ulster bank who pay solicitor fees for switching rather than staying with current bank ( note rates are the same).
- any consideration re paying something off and getting an ltv rate rather than current svr rate.

Thanks for any advice.

 

[trojan]

Before going any further i would suggest you ensure the bank is happy to release you from liability. It is not always as simple as you may think in that lenders can be slow to release security they hold

 

[Brendan Burgess]

If you are simply a guarantor, then the bank can just release you from the guarantee. No need to get solicitors involved. Whether they will do so or not, is another matter.

If you are on the deeds, which seems unlikely, you would need a solicitor.

You should establish which it is first before going any further.

Brendan