Separating from a partner can bring about many changes and decisions. One of the biggest is what happens to the home you share.
For many people over 50, staying in the family home can feel like the best option. But if the property and mortgage are in both names, you may need to buy your ex-partner out of the mortgage to become the sole owner.
The good news is that this is a common thing to do. With the right advice and planning, it’s often possible to buy out a partner and move forward by yourself.
As with all mortgages, your home may be repossessed if you fail to keep up with repayments.
When you buy someone out of a mortgage, you take full ownership of the property and the mortgage. You will also pay the other owner for their share of the home’s equity.
This tends to happen after divorce or separation. But it can also apply when friends or family members who bought together decide to go their own way. The process usually involves a legal change called a transfer of equity. Once this is completed:
Before you can buy someone out of a mortgage, the lender must see proof that you can afford the mortgage on your own.
Many people take over a mortgage later in life. In fact, separation in this age group is now more common. The Office for National Statistics reports that over 22,000 divorces in England and Wales in 2022 involved someone aged 55 or over.
If you want to stay in your home after separating, buying out your partner may be one option to explore. As with all mortgages, affordability is the key. When assessing your application, lenders will look at your:
Some lenders offer mortgage products for older borrowers. Through Saga Mortgages, you can unlock deals from specialist providers for people over 50. This could widen the options available to you.
Divorces and property changes can affect how your will works. Get expert advice on whether you need to update your plans with a free legal review from Saga Legal.
To buy someone out of a mortgage, we have some handy tips on some of the steps to take to help understand if this is right for you.
The first step is valuing your home. This helps to show how much equity is in the property and how much each partner’s share may be worth. To get your home valued, you can speak to an estate agent. Sometimes it is useful to get quotes from more than one, to get a real feel for how much your home might be worth.
Equity is the difference between the home’s value and the current mortgage balance. For example:
If you decide to split things evenly, you and your ex-partner will each have £150,000 of equity. When buying them out, you will need to pay them their share of this equity.
Next, you'll need to check whether you can take on the mortgage alone. You could get in touch with your current lender or specialist mortgage advice service like Saga Mortgages.
Mortgage brokers and lenders will assess whether your income and finances support the repayments. If you can afford the mortgage alone, then they may agree to provide the necessary mortgage for the buyout. Saga Mortgages is one way to get award-winning advice. Our partner Tembo have been named the UK's Best Mortgage Broker for the past five years.
Some people use savings to pay their ex-partner. However, many people need to borrow extra funds. You could do this by:
Each option has its own costs, pro and cons, so it’s helpful to get expert advice before deciding.
Stamp Duty Land Tax (SDLT) may sometimes apply when buying someone out, as taking on their share of the mortgage is treated as payment. A solicitor or tax adviser can confirm your position.
Once the finances are in place, a solicitor will handle the transfer of equity. This legal process updates the property records so that:
After the transfer is completed, the home and mortgage are fully in your name.
Affordability can be a concern when you’re thinking about a mortgage buyout. If your lender decides the mortgage would be difficult to manage on your own, there may still be options available:
Extend the mortgage term – This could reduce your monthly payments, but it may increase the total interest paid.
Specialist later-life mortgages – Some lenders offer mortgage products designed to support borrowing later in life. Here at Saga Mortgages, we can talk you through options that may offer greater flexibility.
Sell the property – If you can't keep the home, you could sell the property and split the proceeds.
If you want to buy your ex-partner out of a mortgage, getting the right advice early can make the process much easier. Saga Mortgages can help you explore your options and find a mortgage that meets your needs.
Whether you need to adjust your existing mortgage or find a new deal, a team of advisers are here to help you make the right move.
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Your home may be repossessed if you fail to repay your mortgage. Saga Money may receive payment from Tembo if you get a mortgage offer via the Saga Mortgages service. This will not affect the amount you pay for the service.
Saga is a registered trading name of Saga Personal Finance Limited, which is registered in England and Wales (company number 3023493). Registered office 3 Pancras Square, London, N1C 4AG. Saga Personal Finance Limited is authorised and regulated by the Financial Conduct Authority under the registration number 178922.
Tembo Money Limited (12631312) is a company registered in England and Wales with its registered office at 18 Crucifix Lane, London, SE1 3JW. Tembo is authorised and regulated by the Financial Conduct Authority under the registration number 952652. Tembo Money was awarded Best Mortgage Broker at the British bank awards in 2022, 2023, 2024 and 2025.
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