Married but only OH name on mortgage and deeds

dc197

Are you sure that adding you to the mortgage would mean the mortgage deal is worse?
You may not have much income of your own, and your outgoings may be larger than your incomings, but I assume these outgoings are sourced by your husband, and for him to have truthfully applied for a mortgage he would have mentionend these outgoings. So your income can only be positive for the application, and your expenditure is already taken into consideration.

I think you shoudl look into a joint mortgage, applying joint names on deeds as joint tenants (as per Dan-Dan). This means you both own the whole house, each get the whole house if the other dies, and have a strong paper-based claim in a divorce.

POPPYOSCAR

CLAPTON wrote: »

you are vastly better protected by being joint owner and joint mortgagee
otherwise any protection you get will only come from going to court and all the stress and cost that entails

if he dies then, without a will, you will own nothing as his child will be the sole owner : do you really want a stroppy 18 year old owning the roof over your head?

if you have any joint bank accounts then you are already both financially linked

how bad is your credit history?

unless its truely awful the get a joint mortgage and have joint ownership.

They are married how would the child be the sole owner?

HappyMJ

CLAPTON wrote: »

you are vastly better protected by being joint owner and joint mortgagee
otherwise any protection you get will only come from going to court and all the stress and cost that entails

if he dies then, without a will, you will own nothing as his child will be the sole owner : do you really want a stroppy 18 year old owning the roof over your head?

if you have any joint bank accounts then you are already both financially linked

how bad is your credit history?

unless its truely awful the get a joint mortgage and have joint ownership.

As far as I'm aware the first £250,000 of someone's estate goes to their husband/wife/civil partner and the remainder is split 50/50 between spouse and children.

bouicca21

Your contribution as homemaker/child carer would certainly be taken into account, as would the length of your marriage plus any previous cohabitation. In the event of divorce, housing the children would be a priority so if you were unable to buy him out, you would almost certainly get the right to occupy the house until your youngest is 18; it would then be sold and split in whatever way the court directed in your settlement. All too easy for that date to creep up on you and find you have no reserves either to buy him out or finance a new place of your own.

And as pointed out, this would depend on a court settlement - which could quick, easy and cheap, or prolonged and expensive depending on how amicable/acrimonious the split is.

In thinking through future possibilities it's worth considering whether your spouse is a salaried employee or self employed. Getting money out of the self employed for child maintenance and settlement purposes etc can be a nightmare as there are so many ways of hiding income. If he is self employed you need more protection.

I think you should be finding out whether it is really true that your credit rating would affect the mortgage - make enquiries. I think you would be much safer with your name on deeds and mortgage.

Frankieloois_2

The credit reference agencies tell me my credit rating is ok now and slightly higher than average but his is nearly perfect and I thought I'd drag him down and it might impact on the mortgage rate?

I have previously had defaults and bad debt but the defaults are all more than 6 years ago which I believe means they don't impact my score any more.

I have about £6000 of unsecured debt but I cover my own outgoings (credit cards, phone, car, petrol etc) out of my own money and give my husband a portion of the mortgage and household expenses each month. As I'm on mat leave I am currently topping up my mat pay with money I saved previously. I'll be returning to work at the end of July.

I don't actually know whether my situation will impede him but as we've found a house and had the mortgage approved I'm scared to rock the boat!

AnnieO1234

Isn't it possible to register matrimonial home rights at Land Registry in this situation? Xxx

HappyMJ

Frankieloois wrote: »

The credit reference agencies tell me my credit rating is ok now and slightly higher than average but his is nearly perfect and I thought I'd drag him down and it might impact on the mortgage rate?

I have previously had defaults and bad debt but the defaults are all more than 6 years ago which I believe means they don't impact my score any more.

I have about £6000 of unsecured debt but I cover my own outgoings (credit cards, phone, car, petrol etc) out of my own money and give my husband a portion of the mortgage and household expenses each month. As I'm on mat leave I am currently topping up my mat pay with money I saved previously. I'll be returning to work at the end of July.

I don't actually know whether my situation will impede him but as we've found a house and had the mortgage approved I'm scared to rock the boat!

My personal opinion only here but he should be topping up your pay with money he's earning whilst you're at home with the child.

Your credit sounds good to me so I would be insisting on going on the mortgage and deeds. I wouldn't care about any boats I would be insisting on it for the protection of you and the child you have together. In his name he can choose to create a will, hide it from you and leave the house to anyone he so desires.

Frankieloois_2

In a sense he does top me up as he pays for far more of the household stuff than me and pays for lots for our child too.

This may be a stupid question but if we enquiry about having a joint mortgage and its a bad deal can we then revert to just him or would the joint application in itself have a negative impact on him?

CLAPTON

POPPYOSCAR wrote: »

They are married how would the child be the sole owner?

sorry

yes, I got that wrong

Okrib

Given how mortgage companies now work he might well be correct.


The simplest solution might well be to do mirror wills, which shouldn't cost much at all.


I have a similar situation with my wife, she's not on the deeds or the mortgage on our flat (which I owned for 10 years before we met), but should anything happen to me then my will states everything goes straight to her.