Change of borrower

A change of borrower (also known as transfer of equity) is adding or removing a borrower from an existing mortgage with The Mortgage Works.

The two may take place at the same time, for example, where one borrower is replacing another.


Requesting a change

  • The borrower who requests the change must be one of the original borrowers who'll remain on the mortgage following the change.
  • The application can't be submitted by the borrower who wants to be removed or added.
  • The remaining original borrower must remain on the account for the life of the mortgage, so can't be removed at a later date. 

Broker support

If you want a mortgage broker to submit an application on your behalf, you'll need to complete a third-party authority form to allow the broker to deal with your account. This form will only allow the mortgage broker to have authority on the mortgage in relation to the change of borrower application. 

Instructing a solicitor

A solicitor will need to be instructed to support the application. They will ensure the transfer of ownership is correctly registered with the Land Registry and that all associated legal requirements are met.

Please note that the solicitor acting on your behalf must be a member of our approved panel. Find a solicitor on our panel.



Check you're eligible

Before you apply, check that you meet our key eligibility criteria below. 

This is not a full list of our lending criteria. All applications are subject to credit scoring and an underwriting assessment.

You can apply if:

  • Tick icon There are more than 6 months remaining on your mortgage at the time of application.
  • Tick icon Your mortgage has been live for at least 6 months at the time of application.
  • Tick icon You haven't had any mortgage arrears in the last 12 consecutive months.

You can't apply if:

  • Cross icon You and/or a family member are living in the property without our consent.

Adding a borrower

  • The maximum allowable loan to value (based on a current property valuation) is 95%.
  • There must be no more than 2 borrowers on the mortgage.
  • The minimum age is 21.

Removing a borrower

  • We may request proof of rental income and/or any other personal income.
  • The maximum allowable loan to value, based on a current property valuation, is 80%. 
  • Where the remaining borrower does not have permanent rights to reside, the maximum loan to value is 65%.
  • An original borrower must remain on the mortgage.

Ready to apply?

A fee of £150 is payable once your application has been approved.

You can either pay this upfront or add the fee to the mortgage. Interest will be charged on the fee if you choose to add it to the mortgage.

 Complete our application form

To apply, you will need to download, complete and post a Change of Borrower application form to us. 


Download Change of Borrower form

Frequently asked questions