Need advice for a friend....

needuradvice

hi guys,

my mate has asked me a technical/legal question and i thought u guys would be the best ones to ask.

Currently himself and his wife have a property bought about 5-7yrs ago. The property is on a mortgage with halifax bank and only the hubby is on the mortgage.

To cut a long story short, he wants to know that since his wife is not currently working due to disability, can he add her name to the deeds, but not the mortgage?

FYI, the property is worth approx a £120k and he approx has a 50k mortgage left

thanks guys

opinions4u

No.

All those named on the property have to be named on the mortgage.

Annisele

To answer your question, no.

However, what is the problem with the wife being added to the mortgage? Do they not want to add her, or are they assuming the lender would say no? In general lenders aren't too upset with one party to a mortgage having no income, so long as the other party can afford to both pay the mortgage and support the non-earner.

needuradvice

Because at the time he bought the property, he was working, he was made redundant and is currently on jobseekers too. He is currently getting help via the dwp mortgage department.

hshen

needuradvice wrote: »

Because at the time he bought the property, he was working, he was made redundant and is currently on jobseekers too. He is currently getting help via the dwp mortgage department.

That could be a tough sell. But I see no reason why lender would be upset by 1 extra person they can go after for (if) any negative equity.

needuradvice

its not possible that he's in negative equity as the property value will be approx £120-£130k.