Am I a tenant ?

richardvc

Good Morning All

My partner and I have lived together for 10 years.

The house is in her name (ie the mortgage) but ALL bills are divided 50/50.

I am thinking of applying for a loan.

Am I a tenant or a homeowner ?

On the MSE loan eligibility calculator it ask homeowner / tenant / living with parents ?!!

Surely there is the other answer....

Living with partner in their house

Finally can I add that we are financially linked, have no CCJs etc, share one credit card (paid off every month) and have no debt apart from the mortgage which we are over paying.

Any help or advice would be appreciated.

Thanks in advance.

Richard

pmlindyloo

richardvc wrote: »

Good Morning All

My partner and I have lived together for 10 years.

The house is in her name (ie the mortgage) but ALL bills are divided 50/50.

I am thinking of applying for a loan.

Am I a tenant or a homeowner ?

On the MSE loan eligibility calculator it ask homeowner / tenant / living with parents ?!!

Surely there is the other answer....

Living with partner in their house

Finally can I add that we are financially linked, have no CCJs etc, share one credit card (paid off every month) and have no debt apart from the mortgage which we are over paying.

Any help or advice would be appreciated.

Thanks in advance.

Richard

To be honest I don't think it matters that much as it is only a calculator.

I would put living in with parents and then the 'rent' you pay (ie. your share of the mortgage.

You have no liability for the mortgage and no liability for rent.

It is just to see what your outgoings are.

Why not try all 3 and see if it makes a difference using the amount you pay towards the mortgage?

jaydeeuk1

I'm in same situation but I always put home owner in any finance docs - we are not financially linked though.

Only time I say rented is if some cold caller knocks on the door selling windows or whatever, its the quickest way of getting rid of them!

SeanG79

With lenders, you are considered a tenant (more and more however banks have an option of living with partner).

Usually it doesn't matter too much what you put, when they perform credit searches, they won't find a mortgage and will class you as a tenant. Some check land registry to ensure you are listed. There is also a CML (Council of Mortgage lenders) check which some lenders do.

heartbreak_star

I'm in the same situation and tend to put "tenant".

HBS x

FireWyrm

jaydeeuk1 wrote: »

I'm in same situation but I always put home owner in any finance docs - we are not financially linked though.

If your name is not on the deeds, you are not a homeowner as that category tells the lender that should you divorce/separate, that some portion of a tangible asset will be yours.

You dont own an asset.

jaydeeuk1 wrote: »

Only time I say rented is if some cold caller knocks on the door selling windows or whatever, its the quickest way of getting rid of them!

You cohabit, but you do not own the property. You would be a tenant therefore.