Married couple want to buy two properties at the same time - but each owning one

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Are there issues with lenders lending only to one half of a married couple ?

Say a husband and wife want to buy two properties, not in the same location, but they want the husband to own one and the wife to own the other.

Owning without a mortgage is easy but if you require funding, is there anything significant to consider.

Yorkie1

Does anything on this thread help?

https://forums.moneysavingexpert.com/discussion/4666621

ACG

Are you buying them on residential or BTL mortgages?
If residential then you need to look at where your working in comparison to the property location - some lenders pick up on this more than others. Also what will happen if your not living in the property?

If its BTL then it should be easier.

holly_hobby

The lender will certainly want to know the purpose/reason of the 2nd house purchase for a married couple i.e holiday home, alternative accomodation whilst you have long term work away from home, and wish to own your temp residence, rather than rent or stay in hotels in the town you work, etc.

You can only seek a BTL mortgage if you will be letting the property to a 3rd party - so if its for temp accomodation whilst you work away etc, you will need to seek a residential mge not a BTL arrangement

Alternatively, if this enquiry releates to the pch of a property to let, then you need a BTL mortgage (if its for a family let you'll need a regulated btl product) - either type of mortgage may be in your sole name (subject to status and affordability etc), but you must declare your marital status within the app if requested.

This is very like a similar thead which Yorkie has kindly linked for you, take note of the tax situation re multi property ownerhships and the nomination of primary residences.

Hope this helps

Holly