Can i add partner to mortgage

scattycat69

Hi
I have a mortgage currently with the Birminham and Midshires and as it is a very good rate at the moment (1% above base rate) I would like to keep the existing mortgage. However my partner and I are discussing moving in together and I was wondering how complicated ot would be to get them added to the mortgage?

Many thanks for any help.

Pee

Depends on their credit score and income etc, but usually two people are better than one to chase after in the event of a repossession, so there probably won't be a problem.

It does however mean that the property will need to be in joint names. Are you sure that you want to do this? If so please get proper legal advise about how you hold it, as tenants in common in very unequal shares, presumably and a Declaration of Trust in case you split up.

This is a really big step.

david39

Why would you want to add your partner's name to the mortgage?
It just means that if something goes wrong then he/she will get chased by the lender as well as you.
Are you trying to get them to commit to paying a share of the mortgage repayments? If you are, then this will achieve little - should your partnership break up and they clear off into the blue yonder, then you will still be 100% responsible for the payments as you will both be liable "severally and separately" - that means they can chase both of you or either of you for the full payments.

Are you getting confused in thinking that putting them on the mortgage gives them a share of the house - it doesn't. Their name would have to be on the land registry for that but, as someone above has said, you will almost certainly will have to do that in order for the mortgage contract to be chaged.