3's a crowd!

lanlee11

i own a house outright with my mother but live in it with my husband. we want to take a small mortgage on the house but dont want her being bothered with the hassle of a mortgage. I know we need to put my husbands name on the deeds but my mother is reluctant to take her name off them. If there are 3 people on the house deeds is it possible to have a mortgage only in mine and my husbands name?

Any help or info would be greatly appreciated.

lanlee

StuTheDon

lanlee11 wrote: »

i own a house outright with my mother but live in it with my husband. we want to take a small mortgage on the house but dont want her being bothered with the hassle of a mortgage. I know we need to put my husbands name on the deeds but my mother is reluctant to take her name off them. If there are 3 people on the house deeds is it possible to have a mortgage only in mine and my husbands name?

Any help or info would be greatly appreciated.

lanlee

Hi,

I think the bank may have an issue with this as, if you default on the loan, how would they recover their money if your mother refused to sell? If you are going down this route I suggest you engage a solicitor and an independant mortgage advisor.

I assume you need to raise funds for something - have you looked at an unsecured loan or other source of finance?