Advice please

getmefree

Hi all

I am hoping someone on here could offer some advice please.

I was looking to buy a house a few months back but lost my job recently and so my boyfriend and one of my parents are buying it together, does anyone know why the mortgage company would need to know that i will be living there?

Also, what could I get in terms of protecting myself should I move in and not be on the deeds?

Thanks

Doozergirl

The mortgage company wants to know so that they can get your agreement that you have no claim on the property.

Which answers your second question. If your parent is buying half the house, you have no right to it. You could ask for some sort of declaration of trust between the two of you that states that their official share of any sale proceeds goes to you, but I'm not entirely sure how much legal standing that would have. It's trust isn't it - they trust you both that you'll pay the mortgage because if you don't and your boyfriend disappears, it will be entirely their problem. You trust that your parent won't allow you to make the payments on the mortgage and keep any sale proceeds.

It's that, or wait.