where do I stand.

Kimberley82

I am meant to be buying a house with my husband of 11 years, they solicitor wants the deposit next week. I am putting 85k in. my husband has taken a mortgage for the other 50k. I cant get a mortgage due to having just started a business.

Things are not going well with us. If we split after buying what would happen? We have 2 children and I am the main carer. I could just about afford it on my own but where would be stand legally as the mortgage is in his name does that make the house his?

Thrugelmir

Why weren't you named on the mortgage application?

holly_hobby

Because she has just started a business and lack of accounts I guess.

But .. if your income isn't reqd/being used, and your credit status has no issues - there is no reason why you can not go on the application, you simply go on as 2nd name.

You will be subject to normal underwriting checks (no ccjs, defaults etc), then it shouldn't be a problem.

You will be then be a joint mortgagor with your Husband - and you shall both be jointly and severlly responsible for mge repayment.

In the event of a marriage split, as you are married with issue, you will probably find that the Judge would make an awardment that you remain in the house, with your ex-husband suporting the mge as part of provision for his issue (usually until you re-marry, or the children reach 16-18) . He will also not able to be removed from the mortgage until your income is sufficient to service the mortgage on its own.

Have a word with your adviser to get the app changed to joint names. (if you have a clean credit history that won't affect the app as a whole)

Hope this helps

Holly

Meeper

If you're not on the mortgage, you're not on the deeds so there is no ownership for you at all.

Kimberley82

I have pretty bad credit still have a ccj on there

Kimberley82

Meeper wrote: »

If you're not on the mortgage, you're not on the deeds so there is no ownership for you at all.

can i be put on the deeds?

Meeper

You can't be on the deeds if you're not on the mortgage.

People can be on the mortgage who are not on the deeds. Everyone who is on the deeds must be on the mortgage.

Kimberley82

Meeper wrote: »

You can't be on the deeds if you're not on the mortgage.

People can be on the mortgage who are not on the deeds. Everyone who is on the deeds must be on the mortgage.

spoke to the solistor who says i can

Thrugelmir

Kimberley82 wrote: »

I have pretty bad credit still have a ccj on there

Your financial association would have been detected your the credit checking process of your husband. So most likely not considered an issue in terms of the overall mortgage application.

Sambucus_Nigra

Why proceed if you are currently thinking that it isn't going well, and hasn't been for a while? Wouldn't now be the best time to make a decision about moving on or sorting things out?

Kimberley82

Sambucus_Nigra wrote: »

Why proceed if you are currently thinking that it isn't going well, and hasn't been for a while? Wouldn't now be the best time to make a decision about moving on or sorting things out?

Because i need somewhere to live so do my children