Rights to house with my name not in mortgage

Zest4Life

Hi wondered if someone can give me advice please. My partner is buying a house. It is to be a joint home but due to my bad credit rating I cannot apply for the mortgage with him. He is expecting me to pay for half the mortgage and bills without being named on the mortgage. He has two children from a previous relationship and pays a very hefty maintenance also. Can anyone give me some advice to my rights if the relationship was to break down? I am worried that I will lose everything I put into it? Thank you

kingstreet

If you aren't going to be party to the mortgage, you can't be party to the ownership either.

Get independent legal advice on your rights in the event of relationship breakdown.

If you are contributing to the deposit, a single application in his name, with you contributing and living in the property will be problematic.

Mojisola

Zest4Life wrote: »

Hi wondered if someone can give me advice please. My partner is buying a house. It is to be a joint home but due to my bad credit rating I cannot apply for the mortgage with him. He is expecting me to pay for half the mortgage and bills without being named on the mortgage. He has two children from a previous relationship and pays a very hefty maintenance also.

Can anyone give me some advice to my rights if the relationship was to break down? I am worried that I will lose everything I put into it? Thank you

By contributing to the mortgage, you can build up a "beneficial interest" in the property but you would have to spend money on solicitors to get your share unless a break-up was very amicable.

As an unmarried partner, he can tell you to leave immediately and you would have to.

There's lots of stuff worth reading here - https://www.advicenow.org.uk/living-together/

QTPie

Also, you need to consider if anything happened to your partner (ie he died): as things stand, you would have to move out and have no claim on the property.

Sorry, not very cheery, but a consideration.

motherbored21

Can you be on the deeds of the property whilst not actually being a mortgage holder of the property?

We have a neighbour who did this. They split and property is being sold and divided between them.

Kynthia

The solicitor involved in the purchase is not looking after your interests as you are not the client. I take it you aren't married and therefore don't have the rights of a spouse and therefore aren't his next of kin either. You will not own this house, you can be chucked out with no notice or rights, if your OH died you would not automatically get the house unless he owns it in just his name AND left it to you in his will, if you split you would have to sue for a share if he didn't give it to you and you would possibly only win if you can PROVE that your money DIRECTLY went on the mortgage and improvements (not on bills or into a general pot and not that you stayed at home and raised his children as it's not automatically the same when you aren't married). Therefore you need to get your own professional advice, both understand the risks and implications, discuss the best way to achieve your goals and protect each other as you love each other, agree, and only then act.

Zest4Life

Thank you for all your advice it's really appreciated

kingstreet

motherbored21 wrote: »

Can you be on the deeds of the property whilst not actually being a mortgage holder of the property?

We have a neighbour who did this. They split and property is being sold and divided between them.

No you can't. Not at the outset anyway.

Lenders will accommodate legal settlements handed down from a court but this does not affect the basic premise, there cannot be more owners than borrowers, although some lenders do allow more borrowers than owners.

G_M

Get married.

If you are not sufficiently commited, then don't make a big commitment like buying a house together!

Let him buy it, an accept that you are a lodger. Pay rent appropriately, not contributing to the mortgage.

bitsandpieces

Agree with the suggestion of getting independent legal advice about where this would leave you. Things can be complicated for unmarried partners

Alongside that, this advice is definitely worth considering.

G_M wrote: »

Get married.

I'm not particularly keen on the idea of marriage as an institution myself, but it can provide a useful way of formalising your rights in the event of break-up (I know, I'm a true romantic :rotfl:). You should check, though, whether marriage would itself prevent your partner from getting a mortgage (by affecting his credit record).

TBagpuss

You'd need to get a declaration of trust drawn up to make absolutely clear what your interest in the house will be.

As PPs have said, you also need to make sure that your partner draws up a will as you would not have any automatic claim, as you are not married.