What is a change of borrower?

A change of borrower (also known as Transfer of Equity) is where you add or remove a borrower from your mortgage without increasing the amount you've borrowed.

For example, you can:

  • change from a single to a joint mortgage 
  • change from a joint to a single mortgage
  • remove a borrower and add a new borrower to your joint mortgage.

Am I eligible to apply for a change of borrower?

You can make an application to add or remove a borrower on most Nationwide mortgages. We'll need to make sure you can afford the mortgage and carry out a credit check.

We can't change the borrowers on your mortgage if:

  • Your property is let
  • Your mortgage will continue to have three or more borrowers
  • The person being removed from the mortgage will remain living in the property, and a lifetime tenancy is, or will be, in place.

There is a £125 fee for a change of borrower application. The fee needs to be paid when you make the application and can't be added to the loan. We'll refund the fee if we decline your application.

How can I change borrowers?

 Step 1

Decide if you want to add or remove someone from your mortgage.

Step 2

Check that you're eligible to apply for a change of borrower.

Step 3

Apply at your local Nationwide branch. It's not currently possible to apply for a transfer of equity online or by phone.

Find out more

Check out our FAQs for more information, or get in touch.

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