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Is this possible??

FloJo16
FloJo16 Posts: 1 Newbie
in Mortgages & endowments
Hi everyone!

I'm after some advice if possible please! My boyfriend and I are looking to buy a home together. Currently I still live at home with my parents and my boyfriend owns his home. He has no mortgage. The home we would like to buy would be my boyfriend paying half cash and me getting a mortgage for my half. Is this something we can do? Is there any lender best to go with or does any lender do this?

Thanks
Jo

Comments

  • kingstreet
    kingstreet Posts: 39,315 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Most lenders require any proprietor/owner to be party to the mortgage, so joint ownership normally means joint borrowers.

    Only HSBC has a mortgage deed which permits sole borrower, joint proprietors.
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • ACG
    ACG Posts: 24,688 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Just to add, as your boyfriend owns another property, you will end up paying the higher rate of stamp duty.
    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.
  • hennerz
    hennerz Posts: 172 Forumite
    kingstreet wrote: »
    Most lenders require any proprietor/owner to be party to the mortgage, so joint ownership normally means joint borrowers.

    Only HSBC has a mortgage deed which permits sole borrower, joint proprietors.

    Which mortgage is this please? Struggling to find it.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    hennerz wrote: »
    Which mortgage is this please? Struggling to find it.

    Previously this was something done in branch not a mortgage as such. As the second person has to sign to give security on the property so the only real difference is that if they are both evicted HSBC can only chase the single borrower for the shortfall, if there is one.
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