Living together but with sole mortgage

stitch88

My girlfriend is in the process of buying a property

I might move in with her when it's all sorted. However she is the wage earner and is buying the house in her name, it'll be all hers and the mortgage is in her name.

She's just told me the mortgage company say that if I move in, Ill have to sign something saying I have no financial interest in the property and I'll have to get legal advice on this.

Is this normal???

I don't want to steal the house, I just want to live with my girlfriend.

bristol_pilot

Quite normal. Your girlfriend seems very sensible to me.

bubblybee

I don't know if it's normal but it seems fair enough. Even if the solicitors were not asking for it I'd probably request it myself. As you say you just want to live with your girlfriend so presumably you don't have a problem with this.

opinions4u

stitch88 wrote: »

She's just told me the mortgage company say that if I move in, Ill have to sign something saying I have no financial interest in the property and I'll have to get legal advice on this.

Is this normal???

It is normal.

I'd suggest the legal advice would be "Yes, it's normal - sign the form."

Basically there was a legal case involving RBS (I think) a couple of decades ago where a judge refused to grant them a repossession order because they hadn't asked the question about who else may be living in the property at the time they granted the mortgage (other readers may be able to give more accurate detail of the case).

You will basically be signing a form to say that you understand there is a mortgage on the property and that you have no rights should they repossess. No signature = no mortgage for your girlfriend.

I would also suggest that you both agree what would happen if you break up (e.g. if I was your girlfriend I would want you to sign a legal document stating that you have no interest in the property or contents in those circumstances, but I would feel awkward raising the subject - you could be that mature one raising the subject and suggesting that you talk to her solicitor jointly about getting such an agreement drawn up).

At some point in the future such an agreement can be cancelled and (hopefully) you will both want to put the house in to joint names.