Boyfriend is named on mortgage with his mum

nerryberry01

My boyfriend and I currently jointly own our own home. He is also named on a mortgage with his mum on a different property.
For the past year, we have been doing up the property that he owns with his mum and the plan is to move into it, hopefully in July next year. The house is split into two dwellings - we will live in the one side and his mum will live in the other. We will sell our house to help fund the final renovations.

Now, the current plan is for him and I to take over the mortgage on the property that he owes with his mum, but I am a bit unsure of the legal process. I don't really want plough the proceeds of our house sale into the other property, because obviously half of it will be mine and I don't want to have no legal protection with regards to the new house. If we remortgage the new house in my boyfriend and my names, will it be easy enough to get my share of the money out, should things go south in the future? I have a fairly decent salary, so it's definitely beneficial to have my name on the mortgage.

Should we get married within the next couple of years, am I entitled to half of mine and my boyfriend's contribution?

This isn't a conversation I really want to go into too much depth with my boyfriend and his mum, because obviously I plan to be with him forever. But these things happen, and I just want to make sure I'm protected.

theartfullodger

More importantly he may be named on mortgage but is he joint owner on the deeds (very likely but not necessarily), and if so is the split defined? Spend £3 with land registry to start finding out.
https://www.gov.uk/search-property-information-land-registry

Red-Squirrel_2

Is his mum going to give her share of the property to you two or sell it?

AdrianC

You don't just change names around "on the mortgage". Except in exceptional circumstances, names on the mortgage = actual owners.


And, yes, you DO want to have this conversation now. Apart from the relationship failing, there are knock-ons in the event of death (how old/healthy is the mother?) and financial problems.

xylophone

Your boyfriend is the joint tenant/tenant in common of his mother's property?

If so, he has the right to occupy it and take you with him.

Why not just move into the property with him after having sold your home and holding the proceeds on deposit for a year or so, to see how the arrangement works out?

You mention that the property is (presumably internally) divided so as to create separate dwelling spaces and there is no immediate need to spend money on renovations?

Once you are happy that the arrangement works, you might consider the way forward?