mortgage/title deed advice

babyt_2

Hi all,

Little advice needed regarding mortgage and title deed for first time buyers. My wife and I are currently looking for a mortgage and property but she has a default on her credit record. We wanted to apply for a mortgage in just my name as my credit file is clean. My question is that if I get a mortgage solely in my name can we put both our names on the "deed" to the house. the mortgage is going to be purely in my name due to bad credit on her part but payment towards the mortgage will be shared.

Thanks

hayleyk_3

As far as I am aware, from being in the same situation myself at the moment and having spoken to solicitors/mortgage advisors etc, the title on the mortgage must mirror the title on the deeds so if you are the only name on the mortgage you are the sole name on the deeds.

Richard_Webster

As far as I am aware, from being in the same situation myself at the moment and having spoken to solicitors/mortgage advisors etc, the title on the mortgage must mirror the title on the deeds so if you are the only name on the mortgage you are the sole name on the deeds.

That's right.

There are a very few lenders - I think the best known are HSBC/First Direct who will have a sole borrower but house in joint names. Wife still has to sign mortgage deed so she agrees to be kicked out if mortgage not paid and she needs separate advice about that to make sure she understands - so extra cost there. Only difference is that once you have both been kicke dout they can only chase you for any shortfall!