It could be carried out, although removing someone from a mortgage isn’t common. Considering that the mortgage was initially underwritten as a combined loan, a creditor is likely to be unwilling to remove among the mortgagees, but might consent to take action in the event the mortgage can be carried by the mortgagee without weakening the lender’s standing. Talk regarding the likelihood of removing a mortgagee from the mortgage before allocating considerable time and resources to your lender.

Get in touch with your lender. Either phone or visit personally; this procedure isn’t a regular trade and probably merits more person-to person contact than a message.

Request a novation. A novation is the substitution of a single debt for another. In your situation, you might be requesting the financial institution to replace the combined mortgage with one that merely obligates one individual to cover.

Provide any private monetary and employment documentation to the lender needed to assess your petition, including pay slips, tax statements and bank statements. Novation demands the party possess sufficient income and a higher credit score to cover the debt. Await the lender’s reply.