Do Both People's Name's Have To Be On The Deeds On A Joint Mortgage?

puddy

yes, ive been reading this thread and really thought that you couldnt buy a property with a mortgage without all the mortgees being on the deeds?? it may be different to that scenario above where the lady got divorced, that may be a special situation because its done legally to say that he has no claim on the property when sold, but i really think that the lender will require the OP to have everyone on the deeds and mortgage and vice versa

also the point about whether your mum would qualify for the mortgage and the issue about needing care etc etc is a good one

neverdespairgirl

ImAlanPartridge wrote: »

Yeah it is. Its my mothers house but me and my GF are looking to buy it, im already on the deeds but she isnt, so I just wanted to know if both have to be but I know now that you dont.

All very well for you and GF, waht about your Mum?

Cannon_Fodder

ImAlanPartridge wrote: »

Yeah it is. Its my mothers house but me and my GF are looking to buy it, im already on the deeds but she isnt, so I just wanted to know if both have to be but I know now that you dont.

Your mother needs to have security of tenure in her old age. Being beholden to a mortgage company, who might have cause to repossess, does not give that security.

You are going to have trouble getting a mortgage anyway with things like this in your past; https://forums.moneysavingexpert.com/discussion/2625951

Where will you find a deposit from, if you cannot keep up monthly payments, let alone clear debts..?

ImAlanPartridge

BitterAndTwisted wrote: »

You aren't on the deeds as you don't own it yet! I think what you mean is that you are named on the tenancy but your g/f is not. I think you should look into whether you can buy the property alone or whether you'll have to buy it with your mother as she's your co-tenant.

Depending on how old your mother is buying a council property under the "Right To Buy" may not be a sensible decision. The rather modest discounts available don't necessarily compensate for the lack of security of tenure or the risks entailed by having a mortgage in the current economic climate, never mind being beholden to a family member to keep the roof over one's head.

I spoke to the council and they confirmed I would be as I have lived there my whole life.

£22,000 compensate's enough for me thanks!

ImAlanPartridge

neverdespairgirl wrote: »

All very well for you and GF, waht about your Mum?

She is moving out, thats why we are taking advantage of the discount before she does.

ImAlanPartridge

Cannon_Fodder wrote: »

Your mother needs to have security of tenure in her old age. Being beholden to a mortgage company, who might have cause to repossess, does not give that security.

You are going to have trouble getting a mortgage anyway with things like this in your past

Where will you find a deposit from, if you cannot keep up monthly payments, let alone clear debts..?

The £22,000 discount we are getting from the Right To Buy is our deposit, so we dont have to save up for one.

puddy

eh?

are you sure the mortgage company are ok with that? how does the equity work?

regarding the deeds. the council dont have anything to do with deeds, thats land registry stuff. an owner has deeds. you're not the owner yet so you cant possibly be on the deeds, no matter how long you've lived there.

i think you're talking about the tenancy

timmyt

ImAlanPartridge wrote: »

Me and my GF are trying to buy my mother's house that she has rented for years, (me and my mother are on the title deeds), but only me and my GF are applying for the mortgage. Do both of us have to be on the deeds or will it be good enough that just I am?

Cheers

you cannot mortgage a house you do not own.