Buying house in my name only....questions if you can help?

tink_1983

Do i need to tell solicitors that my husband will be living there with me?
We buying new build and just got solicitor paperwork, its asking if anyone over 17 will be living at the home with me, and its also saying that if they are and will not be joint owners then the lender will need an agreement with them...

Thing is, our mortgage advisor said in order to get the mortgage we did in my name only as hubby has awful credit history & we would say that he will move in at a later date.
In reality we could be seperated and just reunite couldnt we?!?
But is there any reason not to tell them that he is moving in the home with me?

Also solicitor asking for names and addresses of those gifting my deposit, saying they will write to them, why not just ask me to have them fill out a gifted deposit letter!!

Thanks in advance

G_M

tink_1983 wrote: »

Do i need to tell solicitors that my husband will be living there with me?

.....asking if anyone over 17 will be living at the home with me, and its also saying that if they are and will not be joint owners then the lender will need an agreement with them...


....Also solicitor asking for names and addresses of those gifting my deposit, saying they will write to them, why not just ask me to have them fill out a gifted deposit letter!!

Thanks in advance

Is your husband over 17? If so, there's your answer to question 1 !

Because they have a duty to the lender to ensure those doing the gifting fill in the form, not you?

tink_1983

G_M wrote: »

Is your husband over 17? If so, there's your answer to question 1 !

Because they have a duty to the lender to ensure those doing the gifting fill in the form, not you?

hehe thanks for this, my only concern is that the MA told us to play it like hubby was moving in after i moved in, wondered if it was to avoid an issues with his credit history interfering with my mortgage?

Fire_Fox

It could be deemed mortgage fraud to lie to your lender and pretty serious to lie to your solicitor/ on legal documents, that is not how you get accurate and relevant legal advice. There is simple paperwork that can be signed to ensure your husband would move out in the event that the house is sold or repossessed.

If there is a gifted deposit the solicitor will want to ask specific questions to cover himself, the lender and you. He may also wish to ensure that the deposit letters are not forged.

Mortgage advisor likely has no legal qualifications, assuming this was suggested verbally they won't suffer any repercussions if you get caught committing mortgage fraud. You could have your mortgage rescinded at any point - between exchange and completion and you will fail to complete which is very serious, after completion and the full amount could be due immediately.

kingstreet

Anyone aged over 17 has to sign a consentor form to confirm their acceptance of the terms and conditions so that in the event of repossession, the lender can enforce them against mortgagor and occupant alike.

It's standard and there's no credit check or anything which will be an issue for you.

tink_1983

Fire_Fox wrote: »

It could be deemed mortgage fraud to lie to your lender and pretty serious to lie to your solicitor/ on legal documents, that is not how you get accurate and relevant legal advice. There is simple paperwork that can be signed to ensure your husband would move out in the event that the house is sold or repossessed.

If there is a gifted deposit the solicitor will want to ask specific questions to cover himself, the lender and you. He may also wish to ensure that the deposit letters are not forged.

okay thanks, i wont say hes not living there then! im not trying to be dishonest with anyone i just dont want his credit to affect this house

Fire_Fox

tink_1983 wrote: »

okay thanks, i wont say hes not living there then! im not trying to be dishonest with anyone i just dont want his credit to affect this house

Do you currently have any joint debts - credit cards, loans, mortgage - or a joint current account? If you do you are already linked.
http://www.moneysavingexpert.com/loans/credit-rating-credit-score

tink_1983

kingstreet wrote: »

Anyone aged over 17 has to sign a consentor form to confirm their acceptance of the terms and conditions so that in the event of repossession, the lender can enforce them against mortgagor and occupant alike.

It's standard and there's no credit check or anything which will be an issue for you.

thanks kingstreet, good to know, ill fill the forms in now! thanks for your help

tink_1983

Fire_Fox wrote: »

Do you currently have any joint debts - credit cards, loans, mortgage - or a joint current account? If you do you are already linked.
http://www.moneysavingexpert.com/loans/credit-rating-credit-score

no we have no joint accounts or debts at all, but experian/equifax show us as financial assosications, but this is all... thanks

zappahey

tink_1983 wrote: »

hehe thanks for this, my only concern is that the MA told us to play it like hubby was moving in after i moved in, wondered if it was to avoid an issues with his credit history interfering with my mortgage?

It sounds like you have the sort of MA who is somewhat lacking in ethics and is happy for you to put yourself at risk, by making false statements, so that he gets his commission.

divadee

We had this situation when we first moved in together and mortgage was purely in hubby's name as I wasn't working (but had no debt)

The form is basically to say if you move out/house repossessed that hubby will move out and not try to stay as a sitting tenant etc...

You need to be upfront about this. They are not trying to trick you they are just trying to protect their investment in the house.

Fill in the form properly, you don't want them to refuse you your mortgage if they found out.