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Transfer/sell property to wife?

eyescreamcone · 2012-10-30 14:35:15

I have a few residential properties. All are in negative equity - except one. I have interest only tracker mortgages on them all. The mortgage company want to move all my mortgages to an interest + capital repayment basis soon. Could I get my wife to buy the property with some equity and pay off that mortgage? Could we…

30-10-2012 2:35pm

#1

eyescreamcone

Banned (with Prison Access) Posts: 2,562 ✭✭✭

Join Date: July 2010

Posts: 2518

I have a few residential properties.
All are in negative equity - except one.
I have interest only tracker mortgages on them all.
The mortgage company want to move all my mortgages to an interest + capital repayment basis soon.

Could I get my wife to buy the property with some equity and pay off that mortgage?
Could we then keep the property without a mortgage in her name?
Would the mortgage company be able to get a judgement on that property if I couldnt make payments on others??

All properties were bought prior to our marriage and do not have her name on anything.

Any advice or suggestions please??

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