Does cohabiting partner HAVE to be on the mortgage?

Thrugelmir

always_sunny wrote: »

What a bizarre rule!!! If a couple co-habits together, legally, do they become common law by default after a certain amount of time or not really?

What's bizarre in lenders simply protecting their own interests in a legal manner. The alternative would be expensive litigation should a dispute arise. .

nkkingston

Common Law partnerships aren't recognised under English Law, though if someone makes a regular financial contribution to a house they acquire a beneficial interest in it. If you're not on the mortgage, the mortgage company doesn't have a contract with you, which can make thing very awkward if the mortgage payer defaults, they repossess it, and you're still there.

kingstreet

Sagz wrote: »

When I moved to my new house with my partner, who pays nothing towards the mortgage or deposit, HSBC asked him to sign something that said he had no claim on the property and would move out if / when thay instructed.

A consent to mortgage form is perfectly normal.

The parties to the mortgage are governed by the mortgage deed they signed. Anyone living in the property on the date of completion who is not party to the mortgage is required to sign the consent form as they prevent the lender taking action to repossess in future if they don't. Implied tenancy created, or something like that.

JimmyTheWig

Mojisola wrote: »

This poor guy - you want him to gift you capital towards the deposit and pay the same as you of the ongoing costs but not have any ownership in the property?

They weren't posted by the same person.

tashytashytashy

Hi,

i am in a similar situation.... i am applying for the mortgage in my name. We cannot get accepted as joint application as boyfriend has recent ccj on credit file. We are looking at setting a cohabitation agreement to set that he will be entitled to half the property if things got sour. We both have an equal deposit amount of 5k each as well as a gift from parents of 3k. I have read that santander will not accept gift deposit from a person that will be living in the property. Is there any way around this???