RTB Mortgage help - RTB Papers/Title Deeds in 2 names Mortgage in 1

jollypopps

Hi!

I'm a bit of a newb when it comes to mortgages and the legalities that surround them...so please bear with me :-)

My wife and I are going through the RTB process. Both of our names were included in the initial application and we have received papersand RTB1 forms back in joint names.

On recommendation from our IFA my wife was not included in the Mortgage application due to her having adverse credit.

My question is - can both names be on the RTB/Legal paperwork, but only my name on the mortgage? I'm assuming as both names are on Council RTB paperwork then both names would transferred to the title deeds?

So I'll simplify - Married Couple RTB - So 2 people on deeds, 1 person on mortgage?

Is this possible?

kingstreet

In general, the owner and the borrower should be the same, so you'll struggle with most lenders as they'll feel uncomfortable with the prospect of repossessing against an owner not party to the mortgage conditions.

I've heard of HSBC and Barclays being prepared to consider odd arrangements but I've never tested it, nor do I have a clue how the RTB issue would affect it.

Meeper

They won't be uncomfortable, they simply won't allow it.

You can be on the mortgage, but not on the deeds.
You cannot be on the deeds if you're not on the mortgage.

kingstreet

Meeper wrote: »

They won't be uncomfortable, they simply won't allow it.

You can be on the mortgage, but not on the deeds.
You cannot be on the deeds if you're not on the mortgage.

I believed the same thing until Holly mentioned Barclays in this context a few weeks ago. Hopefully she'll clarify if my memory is letting me down.