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Mortgage Question
Matt_Ratcliffe
Posts: 9 Forumite
I am living with my girlfriend in her house.
It is in her name.
We are moving to a new house which we will both own.
I don't have an income - my girlfriend earns £37000 per year - will i be on the mortgage?
Thanks
It is in her name.
We are moving to a new house which we will both own.
I don't have an income - my girlfriend earns £37000 per year - will i be on the mortgage?
Thanks
0
Comments
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A question you should be asking your girlfriend!I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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You cannot own it if you are not on the mortgage deed. You can be placed on it without an income.
But if something happens to her and you have no income yourself you are still liable for the mortgage and if a default occurs you will have a mark on your credit file.0 -
Thanks Bulldog - so i will have to put my name on the mortgage app??
We dont just have to tell the solicitor that i'm a joint owner?0 -
Yes you can go on the new mortgage, but as has already been stated if you do not earn and something happens to her and she cant work or something you would need to think about how you would pay it
you need good life assurance and a good income protection policy for your girlfriendI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
If you want to ownit you have to go on the mortgage app and the solicitor will need to know this to arrange the right paperworkI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
to summise - you can both be on the mortgage. The lender will only account for 1 income in their affordability calcs. If a default occurs - u r both liable.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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