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Sole mortgage, joint ownership
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Ilovehols
Posts: 2 Newbie
Can I take out an 80% Mortgage in my name only but have joint names on the deeds?
I would really appreciate some legal advice.
Many thanks
I would really appreciate some legal advice.
Many thanks
0
Comments
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No. Any mortgage lender will insist on the person or persons named on the mortgage being the same as the ones on the deeds. The mortgage would be null and void if it was only in one name but the property in joint names.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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enthusiasticsaver wrote: »No. Any mortgage lender will insist on the person or persons named on the mortgage being the same as the ones on the deeds. The mortgage would be null and void if it was only in one name but the property in joint names.
There have been a few threads reporting HSBC have sole lender joint proprietor mortgages.
One even goes as far as the proprietor not being a party to the mortgage lending.
https://forums.moneysavingexpert.com/discussion/5763258/can-i-go-on-the-deeds-but-not-on-the-mortgage0 -
Why do you need the mortgage to be in your name only? I have a joint mortgage with my wife even though she has zero income.0
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getmore4less wrote: »There have been a few threads reporting HSBC have sole lender joint proprietor mortgages.
One even goes as far as the proprietor not being a party to the mortgage lending.
https://forums.moneysavingexpert.com/discussion/5763258/can-i-go-on-the-deeds-but-not-on-the-mortgage
I just read the thread and am surprised HSBC will allow that but as the thread showed it is an unusual occurrence even to the point where the Land registry queried it.
I have worked for several banks in the past and all of them insisted on the mortgage parties being the same as the owners registered on the deeds. Maybe the OP should try HSBC.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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It’s very kind of you to respond. Many thanks.0
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