Mortgage in one spouses name

leemuddywaters

Hi All,


Can anyone shed some light on the legal stand point if a mortgage is one spouses name? We are purchasing our first home but for the first year will have to go in a sole name due to a few credit issues


Thanks

TrickyDicky101

How big is the mortgage?

Are you married/civil partnership or just living together?

If not on the mortgage then the house will be registered in solely the mortgagor's name.

leemuddywaters

Mortgage around £80k as its co-ownership, yes we are married

TrickyDicky101

What particular concerns do you have? It will make it easier for a reader to know how to respond.

leemuddywaters

Can the house be sold without consent? Can someone be told to leave the property?

ansellm1970

you can apply for a home rights order on the property so your partner cannot sell the house without your permission

leemuddywaters

Does that have to be done through a solicitor?

glasgowgirl80

What is your actual concern legally? Yes you can apply for a mortgage in one spouses name (we have a house in just my name, my husband isn't on either the mortgage or title deeds) but some lenders will not allow this if you are both going to be living in the property and some will consider your wife a 'dependant' and take this into account. Your home would belond to you only so your wife couldn't sell it out from under you (although you could sell it from under her!). She couldn't evict you or anything and to be honest in practice you probably couldn't evict her either due to it being the 'marital' home. Not sure if this is what you mean though?

You say that it would just be for the 'first year' but it doesn't really work that way either, in order to add your wife to the mortgage/title at a later date you would need to remortgage entirely and go trhough the whole mortgage process again.

Things to remember if you do this - you will need life cover so that the mortgage is paid off if you die and a will so that your wife is entitled to the house. This isn't automatic. Not sure how shared ownership works in this situation though.

ansellm1970

I'm not sure if it actually has to be done through a solicitor or whether you can do it yourself, however mine was done by mine as he's handling my divorce. Maybe enquire with your local court or land registry?