Can I take over my ex-partner's mortgage?

Q My partner and I are splitting up. The mortgage is in my partner's name but he is willing to give me the house, and does not expect any money from me.

There is ?62,000 remaining to be paid on the mortgage and the rate is fixed at 5.19% for another two years.

Will it be cheaper and less hassle to have my name put on the mortgage and keep the existing rate, or to buy the house from my partner with a new mortgage? What is the best way to do this? Each option seems to involve lenders' fees as well as legal fees.

KS

A I'm afraid that it's not a question of what is better, cheaper or less hassle, but a question of what's possible. While your ex-partner may be happy for you to take over his mortgage, the lender may feel differently - especially if you don't meet its lending criteria.

Even if the lender is prepared to lend to you, you won't necessarily be able to keep the current fixed-rate deal. So before you can even begin to decide whether it's better to go with your ex-partner's lender or choose a different lender altogether, you need to find out whether the current lender is prepared to do business with you and, if so, on what terms.