Mortage in one name-can partner contribute to repayments?

House_hunter_leeds

I am a first time buyer. I live with my partner and we are not married. I want to get a mortage in just my name as my partner has a poor credit score. My credit score is good and I can get a mortage on my wage alone. Can I get the mortage in my name and then recieve half of the mortage repayment amount from my partner? I know I'd need to see a solicitor about a will but is this allowed or would it be seen as me renting out the house to someone else? Thanks

davidmcn

Sounds pretty normal to me. Up to you how you share the bills.

SmlSave

It is allowed and is perfectly normal.

However, in worse case circumstances, it means they have a strong claim on the money in the house. It is always best to discuss this clearly with each other on what you think is 'yours'

smallholdingsister

You can but in an ideal world you will both have legal advice about what happens if the unthinkable occurs in your relationship.

Debtslayer

How you share household bills is totally up to you.
However there are a few points to remember:
It will be a solo mortgage application and based purely on your income and outgoings; any money you receive from partner will not be taken into account when being assessed for affordability
Partner would have to sign a form to state they have no claim on the property in the event you were to default on the mortgage payments.

Colum3

I am/was in exactly the same position, partner has a poor credit score and mine is good. We were given the opportunity to buy somewhere at short notice, i.e. no time to fix the bad credit.

I got a mortgage in my name, we both live here and pay half of all bills each. Partner had to sign a form saying he has no legal right to the property, that goes to the mortgage company. It's fairly standard I believe, anyone over the age of 18 living in the property who isn't named on the mortgage has to sign them, e.g. 18 year old kids still living at home with mom and dad.

It's not classed as rental if your partner pays half of the bills this way. But as above your partner needs to be happy that they will literally have to sign away any right to the property before the sale goes through etc.