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  • FIRST POST
    • Craig660
    • By Craig660 17th Oct 16, 1:03 PM
    • 55Posts
    • 5Thanks
    Craig660
    Mortgage in one person's name, deeds in both names?
    • #1
    • 17th Oct 16, 1:03 PM
    Mortgage in one person's name, deeds in both names? 17th Oct 16 at 1:03 PM
    Afternoon,

    So me and my Gf are thinking of buying two properties.

    1 house for us to live in and another flat for a investment.

    Questions:

    1. Is it possible to get a mortgage each, but have both our names on the deeds of each property?

    So she would apply for one mortgage on her own and I would also apply for my own? Thus saving additional stamp duty?

    2. Is it possible to have such a legal arrangement / document that we put state how much deposit one put in, which they will get back on the sale of the house, and then the equity is 50/50

    So as an example, my Gf get's the mortgage for the house, she puts in 100k deposit.

    So upon the sale of the house she gets her 150k, and then after that we split it 50/50

    and vice versa for the flat, I get my deposit back and we then split the equity.

    Thank you in advance.
Page 1
    • davidmcn
    • By davidmcn 17th Oct 16, 1:19 PM
    • 3,835 Posts
    • 3,411 Thanks
    davidmcn
    • #2
    • 17th Oct 16, 1:19 PM
    • #2
    • 17th Oct 16, 1:19 PM
    1. Is it possible to get a mortgage each, but have both our names on the deeds of each property?

    So she would apply for one mortgage on her own and I would also apply for my own? Thus saving additional stamp duty?
    Originally posted by Craig660
    Stamp duty is nothing to do with mortgages - if you mean both properties will be owned in joint names then you'll be liable for the additional rate of stamp duty on the second property.
    • discat11
    • By discat11 17th Oct 16, 1:48 PM
    • 220 Posts
    • 239 Thanks
    discat11
    • #3
    • 17th Oct 16, 1:48 PM
    • #3
    • 17th Oct 16, 1:48 PM
    If any property is going to be jointly owned then both owners will be jointly liable on the mortgage too afaik.
    • Craig660
    • By Craig660 17th Oct 16, 1:54 PM
    • 55 Posts
    • 5 Thanks
    Craig660
    • #4
    • 17th Oct 16, 1:54 PM
    • #4
    • 17th Oct 16, 1:54 PM
    Stamp duty is nothing to do with mortgages - if you mean both properties will be owned in joint names then you'll be liable for the additional rate of stamp duty on the second property.
    Originally posted by davidmcn
    ok, understood.

    So, would it be possible to get an agreement on the properties with deposits, equity split.
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