One name on mortgage but two names on actual house?

afooksy

Quick question, myself & partner are FTB. Currently dealing with a MA who is coming back to us shortly with a DIP.


The DIP will be based solely on my partners income and credit history. I am on Debt Management plan so can't be considered on the mortgage unfortunately.


Has anyone been in a similar position? My question is when we do buy a house, can the actual house be in both of our names or just my partners? I've heard you can have things written into contracts about this so should something go wrong I am protected. Is that true?


We are not married or have any children, the only financial association we have is a joint account.


Any advice would be great.

ACG

There are only maybe 1 or 2 lenders who will allow 1 name on the mortgage but 2 on the deeds.
There are lenders who will accept you in theory - although as ever the devil is in the detail. You could look to do a single application with a deed of trust possibly.

Its worth sitting down with a broker and a solicitor to discuss your options I think.

afooksy

ACG wrote: »

There are only maybe 1 or 2 lenders who will allow 1 name on the mortgage but 2 on the deeds.
There are lenders who will accept you in theory - although as ever the devil is in the detail. You could look to do a single application with a deed of trust possibly.

Its worth sitting down with a broker and a solicitor to discuss your options I think.

Thank You. We met with the a broker on Saturday and he said he has seen it a few times before. Once we get the DIP back and actually start looking at houses we will investigate it thoroughly then.


Thanks for the advice x