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Adding wife to deeds/mortgage

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  • Mojisola
    Mojisola Posts: 35,571 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    davidmcn wrote: »
    OP, is there a particular reason why you're wanting to do this? If you're a married couple and it's the matrimonial home, your wife is pretty well protected as it is.

    His wife would have no say if he decided to max out a mortgage on the family home and spend the money - she could think they have a secure home when they had nothing but debt.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Mojisola wrote: »
    His wife would have no say if he decided to max out a mortgage on the family home and spend the money - she could think they have a secure home when they had nothing but debt.
    Same could apply with a joint "all sums" security, surely?
  • Ted1066
    Ted1066 Posts: 7 Forumite
    Hi thanks for reply
    The reason is my wife will feel more secure if she is on the deeds
    The problem is we are in year 3 of a 7 year deal with a fee of 7500 to get out
    Is there any way we could add her to the deeds but continue with current mortgage
    What are my options
    Thanks
  • Let_Us_See
    Let_Us_See Posts: 1,319 Forumite
    "Same could apply with a joint "all sums" security, surely?"


    No. With a joint mortgage, all parties have to agree to additional borrowing.
  • Let_Us_See
    Let_Us_See Posts: 1,319 Forumite
    "Is there any way we could add her to the deeds but continue with current mortgage. What are my options ."


    If the lender declines, then apart from re-mortgaging and paying the ERC, then there is nothing you can do mortgage wise.


    Make sure you have adequate life cover and specifically make the bequest in your Will that your wife inherits your marital home.
  • Mojisola
    Mojisola Posts: 35,571 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Ted1066 wrote: »
    The reason is my wife will feel more secure if she is on the deeds

    The problem is we are in year 3 of a 7 year deal with a fee of 7500 to get out

    What are my options

    She could register a notice of home rights on the property until you are able to get a new joint mortgage without paying the fee. That will give her some protection in case you try to sell or remortgage the property.

    Do you have a will, leaving the property to her?
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Let_Us_See wrote: »
    With a joint mortgage, all parties have to agree to additional borrowing.
    Even if the security covers all borrowing either party has with the bank?
  • Let_Us_See
    Let_Us_See Posts: 1,319 Forumite
    Apologies, I don't quite understand your query.


    However, any joint mortgage requires joint agreement to any alteration, including additional borrowing.
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