Mortgage to be in husbands name do I still have rights to the house?

billycoco

Hi!

Just wondered if someone could give me some advice please.

My husband and I are hoping to buy a house in the next month or two.

Due to various reasons we have decided to buy the house in his name only.

He earns enough to get a mortgage alone and we have a decentish deposit, all his savings.

I will be paying half the mortgage.

Does anyone know, should we ever split up (not planning this!!) would I still be entitled to a share of the house??

Do I need to get a document drawn up by the solicitor?

Thank you in advance

Thrugelmir

Best advice is to be named on the mortgage to protect your own interests.

CloudCuckooLand

Similar question previously; https://forums.moneysavingexpert.com/discussion/comment/43532188#Comment_43532188

vik1491 wrote: »

I have recently applied online for the hsbc fee free tracker mortgage. The mortgage application will just be in my name, but one thing the advisor asked was is anyone else going to live in the property with me. And I said my wife will be. Then the advisor said hsbc will also send out a form which would require signing by my wife - cant remember the reason why, something to do with her not being liable for something

kingstreet wrote: »

Most lenders issue the consentor form to the applicant's solicitor, rather than direct to the applicant. They make it part of the solicitor's work for them to ensure it is signed.

All the form does is allows the lender to apply the terms of the mortgage against an occupant who isn't a borrower, should they have to repossess the property. They can then evict everyone without complications.

Don't think a lender will on one hand allow you to avoid liability for the mortgage (or get in the way of their repossessing, should the need arise, with anything very stong in legal terms) and on the other hand benefit from proceeds...

You can get anything put in writing. And it may well suffice, as a personal arrangement between two people who get it witnessed, if nothing ever goes wrong with the mortgage. But if the lender has to, they will get first option.

He should get something in writing to get his deposit back.

Unless your credit is shot and it would kill the mortgage altogether, get yourself put on the mortgage.

theoretica

Can't you be named on the title deed but not the mortgage? The thing the mortgage lender insists on you signing is that they get repaid before you claim any portion of the sale price.

antrobus

billycoco wrote: »

Does anyone know, should we ever split up (not planning this!!) would I still be entitled to a share of the house??

Very likely.

For one thing there are 'Matrimonial Home Rights'. It's the existence of these rights that explain why the lender wants you to sign that bit of paper.

If you ever split up, then the courts would make a decision on the division of the proceeds based on the facts. Such as, whether there are any children and who has custody, and who contributed what and when.