Triplex - it may or may not be that simple. There may be stamp duty on the transfer depending on the value and the status of the purchaser.
While its true to say that a lender may facilitate the change of ownership and the release of one person from the mortgage, in reality, it is more likely that the original mortgage will be discharged from the proceeds of a new mortgage.
Post actual details ( original pp, whether stamp duty paid, value of share now being purchased) for more information.
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