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

jimjames

zappahey wrote: »

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.

Definitely. Rather shocking that they even suggested this. It's one thing to say it to someone who has an unmarried partner but to suggest it to someone married seems absolutely crazy!

I had to do the same when I bought my first house and it is as explained with the form to sign that they have no right to remain in property.

GDB2222

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.

If it's that straightforward, do you have any idea why the mortgage adviser told her to lie? Or is it just that some people are so crooked that they can't see the straight way of doing things?

tink_1983

zappahey wrote: »

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.

it certainly appears this way doesnt it!!
I have filled in all the forms honestly, we are married and it wont be issue for him to sign the form. His parents giving us £15k of our gifted deposit, so seems extra silly to pretend he wont even be living there!!

But he will happily sign the form

Fire_Fox

tink_1983 wrote: »

it certainly appears this way doesnt it!!
I have filled in all the forms honestly, we are married and it wont be issue for him to sign the form. His parents giving us £15k of our gifted deposit, so seems extra silly to pretend he wont even be living there!!

But he will happily sign the form

You mean your gifted deposit not our? If your partner is not on the deeds or the mortgage they aren't giving anything to their son. Are they OK with him signing away all his rights in the event that you do a flit?

tink_1983

Fire_Fox wrote: »

You mean your gifted deposit not our? If your partner is not on the deeds or the mortgage they aren't giving anything to their son. Are they OK with him signing away all his rights in the event that you do a flit?

Think they know that they dont have alot of choice to be honest, plus the home is for their grandchild also so not just about me and their son.

They know the credit issues we have had due to my hubbys credit history, plus if they wanted a document drawn up saying they would get that £15k back in event we divorced that wouldnt be an issue to me either.

Life can get very complicated cant it!!

Mojisola

tink_1983 wrote: »

if they wanted a document drawn up saying they would get that £15k back in event we divorced that wouldnt be an issue to me either.

It might be for the mortgage company.

tink_1983

Mojisola wrote: »

It might be for the mortgage company.

In the event of a divorce and sale of the house, tbh this isnt an issue so far, they know the house / mortgage in my name only.

Fire_Fox

tink_1983 wrote: »

Think they know that they dont have alot of choice to be honest, plus the home is for their grandchild also so not just about me and their son.

They know the credit issues we have had due to my hubbys credit history, plus if they wanted a document drawn up saying they would get that £15k back in event we divorced that wouldnt be an issue to me either.

Life can get very complicated cant it!!

If that document is drawn up you no longer have a gifted deposit, you have a deposit with strings attached which the lender is unlikely to be happy with. How would you pay that £15K back if you divorced, would you sell? How long until your husband's credit file is clean enough to apply for a mortgage? Why not wait until that happens and you can save up for yourselves? The market really is not rising fast enough for you to 'miss the boat'.

What plans do you have for if one of you falls ill or injured and cannot work or redundancy as well as relationship breakdown? Can you still care for your child and pay the mortgage? At present the state won't pay your mortgage for the first three months, but this is to be reviewed in January IIRC and not sure it applies to very new mortgages anyway.

tink_1983

Fire_Fox wrote: »

If that document is drawn up you no longer have a gifted deposit, you have a deposit with strings attached which the lender is unlikely to be happy with. How would you pay that £15K back if you divorced, would you sell? How long until your husband's credit file is clean enough to apply for a mortgage? Why not wait until that happens and you can save up for yourselves? The market really is not rising fast enough for you to 'miss the boat'.

What plans do you have for if one of you falls ill or injured and cannot work or redundancy as well as relationship breakdown? Can you still care for your child and pay the mortgage? At present the state won't pay your mortgage for the first three months, but this is to be reviewed in January IIRC and not sure it applies to very new mortgages anyway.

There has been no talk of any documents, and there are no strings to this gifted deposit, i guess all the rest of your questions apply even if not a joint mortgage?
I am a police offier so cant be made redundant,and we both get sick pay from work? and my salary alone is more than enough to cover our mortgage...and worst case our marriage fails i dont see hubby asking for the house to be sold as our son would need a home.

It will take another few yrs at least for hubby to be viable for a mortgage, we also due to inherit some monies from my mum in the next yr when she sells her 2nd home so we will have some cushion in case of emergencies for the future.
Childcare is dealt with via grandparents who are retired.

Jayjay22

best to just be honest, its one thing hes not on the mortgage. but better to be honest about him living there!