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Cohabiting - does partner have to be on mortgage?

2

Comments

  • KRB2725
    KRB2725 Posts: 685 Forumite
    Part of the Furniture
    We bought a house, I wasn't on the mortgage & the house was registered in his name. I had to sign a declaration essentially saying that I had no right to remain in the property should it need to be repossessed.

    We were unmarried at the time.
  • Neverending_Story
    Neverending_Story Posts: 31 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Haha, no, I mean I want to buy the house, and we will contribute equally. Should something happen I want back what I have put in, i.e. deposit and we can split the rest 50/50.
  • Jackieboy
    Jackieboy Posts: 1,010 Forumite
    Neverending_Story wrote: »
    Well we have 2 babies so I don't think that matters. If we ever split I want to make sure we are clear that the house is mine. I was thinking about asking the solicitor to draw something up if we marry to avoid being stung in the future.

    Does he know that you feel like this?
  • marksoton
    marksoton Posts: 17,516 Forumite
    Neverending_Story wrote: »
    Haha, no, I mean I want to buy the house, and we will contribute equally. Should something happen I want back what I have put in, i.e. deposit and we can split the rest 50/50.

    That's not what you said.
  • Neverending_Story
    Neverending_Story Posts: 31 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Yes, he knows I was caught out by an ex who still owes me thousands I will never see again and I didn't come to be judged.

    Thanks all.
  • Guest101
    Guest101 Posts: 15,764 Forumite
    Neverending_Story wrote: »
    It's not really, but until he improves his credit and we move or remortgage I want to keep our finances as separate as possible.

    Well then do t ask him for money?!
  • marksoton
    marksoton Posts: 17,516 Forumite
    Neverending_Story wrote: »
    Yes, he knows I was caught out by an ex who still owes me thousands I will never see again and I didn't come to be judged.

    Thanks all.

    The irony of this is clearly lost on you....
  • andybenw
    andybenw Posts: 212 Forumite
    When I bought (partner living with me) my solicitor had my partner sign a waiver of any right to an interest in the property. This was to satisfy the mortgage companies 'charge' on the property against any sort of possible beneficial interest.

    Not sure why the same can't apply here.

    No need for your partner to be on the mortgage. Maybe what the mortgage company means is that your partners income/outgoings will need to be included as part of your mortgage assessment, as the rules are quite strict and affordability based now rather than simple salary multiple based. The fact you both contribute to child upkeep will probably complicate matters.
  • andybenw
    andybenw Posts: 212 Forumite
    Neverending_Story wrote: »
    Haha, no, I mean I want to buy the house, and we will contribute equally. Should something happen I want back what I have put in, i.e. deposit and we can split the rest 50/50.

    Oops. Just read that bit. Ignore my last reply.


    What you need is to buy jointly as 'tenants in common' with a joint mortgage, and a 'deed/declaration of trust' governing apportionment of monies if you sell the property.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    andybenw wrote: »
    When I bought (partner living with me) my solicitor had my partner sign a waiver of any right to an interest in the property. This was to satisfy the mortgage companies 'charge' on the property against any sort of possible beneficial interest.

    Not sure why the same can't apply here.

    It can, and it probably is exactly what's being asked for.
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