adding someone to an existing mortgage

moominella

Hi
was wondering if anyone could give us a bit of advice, my partner currently has a nationwide mortgage I have been living here and paying in to the mortgage for around 6 years now and we want to add me to the mortgage, I have a good credit rating is this something that would be fairly straight forward? he has a really good deal and we are overpaying so don't really want to re-mortgage, any advice much appreciated

enthusiasticsaver

If you were to be added to the mortgage you would also need to be added to the property deeds. That would involve solicitors costs and land registry fees. It is straightforward but can cost. I would get quotes before deciding whether or not to go ahead. If you don't go ahead with it though you need to think what would happen if anything happened to your partner. Are you married or in a civil partnership?

moominella

Hi

thank you for that advice, no we aren't married yet we keep talking about it but keep finding more important things to spend our money on!

juniordoc

When does his current good deal expire? If I were you and had been paying in for 6 years without the protections of being married, I'd want my stake in the property protected. It might also be a good idea to come to some agreement about who owns the property in what proportion in case the relationship doesn't pan out.
Sorry not trying to be all doom and gloom but always best to hope for the best but be prepared for the worst.