Married but only OH name on mortgage and deeds

Dan-Dan

Okrib wrote: »

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.

Thats fine , but in the OP`s situation even if named on the will as beneficiary for the property as it stands the house would go into the estate to distributed by the executor which is all extra stress and pressure at a terrible time

Much easier to be joint owners and joint tenants then no such stress and hassle

FBaby

If you're married, you are protected in that all assets are joints. If the marriage is still short, he could make a case that he paid more into the house, but you could make a case that you are the main carer to your child, anyway, whether you are on the deeds or not wouldn't make any difference as to what each would be entitled in the settlement.

However, you do need to make a will as it would be upon his death that you could lose out, even if married.

Frankieloois_2

Thank you for all your replies and advice. I guess we'll be visiting the mortgage lender to see what can be done.

Thrugelmir

Even if you are not named on the mortgage. Your husband is going to have to declare yourself and your child as financial dependents on the mortgage application. One cannot choose what to airbrush out of view in order to "beat" the system.

TBagpuss

Talk to a morgage broker and get some illustrations as to what deals you could get in joint names. If they are as good (or almost as good) as the deal that your husband can get alone, then go for a joint application.

If they are significantly worse then buy in hisname but speak to your solicito about drawing up a declaration f trust to say that he holds as trustee for you and him as joint tenants. That makes clear that you and he intend to be joint woners, as beteeen yourselves.

Once the proeprty is bought, you should register a matrimonail homes rights notice. This is free, and simply flags up on the record the LAnd Registry holds that you have an interest in the proeprty. this makes it much less likely that your husband could, in the future, sell or remortage the property without your cooperation.

Make sure that you have both made wills and that his will leaves the proeprty to you. If he doesn't make a will, then you would (under current rules) be entitled to £250,000 + half of anything above that amount, but if the house was in his name then that would include the value of the house.

If you were to divorce, then the aim is to come up with a fair settlement taking into account your respective needs and resources - it's not particualrly relevant at that point whose name things are held in.

Being on the mortgage may be helpful to you in that it helps you to build a clear and positive credit record, so not being on it may disadvantage you in the longer term.