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help to buy, single ownership
Justmarried
Posts: 2 Newbie
This may be a strange question, but here goes.
We are trying to buy our first house. My wife is Slovakian and 11 years ago her grandmother died leaving her the family flat (in Slovakia) My wife's parents live in the flat.
Under help to buy rules we would have to sell the flat as no one can "own another property any where in the world" (we have no intent of throwing her parents out) The Home and communities agency don't seem to care about this and have told us to sell the flat or for me to buy the house here in my name alone.
I would not get a mortgage on my salary alone.
Can we have a mortgage in both names based on both salaries and the deeds just in my name???
I didn't think this could be done.
Thanks for any help.
We are trying to buy our first house. My wife is Slovakian and 11 years ago her grandmother died leaving her the family flat (in Slovakia) My wife's parents live in the flat.
Under help to buy rules we would have to sell the flat as no one can "own another property any where in the world" (we have no intent of throwing her parents out) The Home and communities agency don't seem to care about this and have told us to sell the flat or for me to buy the house here in my name alone.
I would not get a mortgage on my salary alone.
Can we have a mortgage in both names based on both salaries and the deeds just in my name???
I didn't think this could be done.
Thanks for any help.
0
Comments
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Why don't you just save a 10% deposit rather than a 5% and buy via the traditional purchase route? could you use the flat in Slovakia to raise a deposit to finance the purchase in the UK?
You cannot have a mortgage in joint names just on your salary without partner being assessed.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
No we can not raise money on the flat. If we could what's the point?. That would mean repaying two mortgages/ loans.
My wife's salary would be assessed, it already had and we would get a joint mortgage.
The question was, can we have a joint mortgage but only one name on the deeds?0 -
No as far as I'm aware you cannot have a joint mortgage and a single owner of the property.
Help to Buy agent will allow you to use 1/3 of your partner's income without her being on the deeds but the mortgage company will not0
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