It’s not recommended that you attempt to give away a property with a mortgage. The mortgage lender will require you to pay off the mortgage before the ownership transfers. Therefore, the transaction must be a genuine sale and purchase at a price that covers the balance of the loan. If you wish to transfer ownership and keep the mortgage in place, then you must seek consent from the lender. The lender will review your child’s ability to pay the mortgage just like they would with any mortgage applicant, and they may not be eligible for the type of mortgage you currently have or any mortgage at all. This can be a lengthy and complex process, so it is important to seek legal advice.