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Sole mortgage but joint title deeds?
butlej
Posts: 4 Newbie
Is it at all possible to have a sole mortgage but have joint title deeds. To put it into context, the mortgage was taken out in the early 90's with Northern Rock. Mortgage is in the name of the Mother but the title deeds in the name of mother and son?
Thanks
Thanks
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Comments
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Is it at all possible to have a sole mortgage but have joint title deeds
Yes - think of cases where one spouse was the sole earner and the mortgage was taken out in his name but the house was registered in joint tenancy.0 -
But what benefit would it be to the mother or the son for him to be on the deeds and not the mortgage? Would it help affordability assessments for the mortgage in the mothers name? Thanks for your reply
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Few lenders offer mortgages where there are more people named on the deeds than the mortgage. If the son is not party to the mortgage then the mortgage would be purely based on the mother's income.0
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Well surely you've jusy answered your own question then. Since you say that is the situation, then clearly, yes, it is possible!Is it at all possible to have a sole mortgage but have joint title deeds. To put it into context, the mortgage was taken out in the early 90's with Northern Rock. Mortgage is in the name of the Mother but the title deeds in the name of mother and son?
Thanks
Though unusual.0
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