shared ownership

bradrock

Hi, going to (or at least try to) purchase a shared ownership property. The share is 25% for 27500. My oh has bad credit as in missed payments and default for 5000 unsatisfied (in dispute).
I have 25k income and fairly decent credit rating.

Is it somehow possible to have the mortgage in my name and apply jointly to the housing association therefore here credit rating wont matter??

ty

Mrs_Bumble

The mortgage and the title deeds have to be in the same name, so if you have the mortgage in your name then the property title deeds would have to be in your name. So if you are approaching the housing association I would have thought it would have to be just you.

SelbyJay_2

Yes it will. The HA holds the lease and the names on the lease must match the names on the deeds & mortgage.

bingibongi

It is actually possible to have deeds in one name and the mortgage in joint names - just that you will be hard pressed to find a lender that will agree to this &/or be aware of this.

Mrs_Bumble

Lenders are not happy for the title deeds to be in different names to the mortgage as it makes it difficult if there are any court proceedings. I do not know of any lenders that will lend on this basis and so if anyone is aware of someone I would be interested to hear thanks