Switching name on my mortgage/deeds

mrsh2103

I am expecting a baby and I will be cutting down hours at work. May partner is wanting to buy a house and I want to reduce my outgoings. We are thinking of transfering the house and mortgage into my partners name so he deals with all payments and ownership of the house. Is it possible to do this and how would I go about it. I am having a few credit problems and want to be able to pay off my debts and we think this is the best solution.

Any advice???

Lipstick_2

It is certainly possible providing he earns sufficient to warrant the mortgage amount.

What is his income and how much is the mortgage loan amount?

silvercar

My advice? Don't do it. What happens if things break down between the two of you? You would then be living in his house.

Jonbvn

Since you are "partners" and you are having a baby, why on earth would you want the house in only your partners name?

It makes no difference whatsoever if the mortgage and property is in your joint names, and only your partner is actually contributing. Remember you are jointly and severally responsible for servicing the mortgage.

CHR15

Was this His idea??

Like John said, who cares who is paying it, your name on the deeds doesn't mean you have to contribute.

I wish my Ex wife had suggested that 15 years ago, she never financially contributed to the house but still ended up owning the whole thing outright and left me homeless.

With a new baby it must seem you will be lifetime partners, sounds to me like he is planning his escape! (sounds brutal but honest)

Having the house in joint names and regular payments being made will help your credit file too so it is in your interest to remain on the deeds.