Can I change co-owner of house on loan from brother to wife ?

POSTED BY prashk9 ON February 19, 2014 6:00 pm COMMENTS (2)

Hi,

I am the existing SBI Max gain loan borrower for my flat, I have just go through all the suggestion you had given in this forum, but my problem is different, I had borrowed loan from SBI on the name of Myself & Co-owner my brother for loan sanction eligibility, but now I am solely eligible for my outstanding loan & want to change the co-owner to my wife in place of my brother.

Please suggest me if it can be possible.

2 replies on this article “Can I change co-owner of house on loan from brother to wife ?”

  1. Credexpert says:
    February 20, 2014 at 7:59 pm

    Dear Prashk,

    If your brother is the co-owner of the property then he has to be the co-borrower of the loan. This is because all co-owners have to be co-borrowers but all co-borrowers need not be co-owners.

    However, adding your wife as a co-borrower to the loan would not be allowed now since the bank agreed to the risk of lending you after evaluating your brother and your credit worthiness.

    Regards,
    Credexpert
    http://www.credexpert.in

    Reply
  2. ashalanshu says:
    February 19, 2014 at 9:09 pm

    Dear Prash, are you asking to change loan applicant from Brother to Wife or property ownership from Brother to wife?

    Thanks

    Ashal

    Reply

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