Should mortgage be in both names?

retireearly

My husband took the mortgage in his name only because at the time I was not in regular employment. Now I am working should we change to both names? I would also like to buy a property to rent out, so unsure if easier if we both have a separate property.

MalMonroe

retireearly said:

My husband took the mortgage in his name only because at the time I was not in regular employment. Now I am working should we change to both names? I would also like to buy a property to rent out, so unsure if easier if we both have a separate property.

You say "should mortgage be in both names?"

I say -

 YES, YES, YES, YES AND YES!!!  *ahem*

That's a big fat yes, if it wasn't clear. For goodness' sake! Your husband took out the mortgage in his name only because you weren't working?!! That is absolutely ludicrous. You're a couple. That, to me, is not how a relationship works. 

Yes, get your name on some document associated with the property because if you split up you're going to be homeless, with no rights. If you think that won't happen to you, then please take it from me, it could. I thought I was happily married and we had a joint mortgage, joint bank account, joint everything, so happy . . . . then my husband suddenly declared that our marriage was stale and he'd met someone else far more exciting so he was off. He's now in his fourth marriage but that's another story. Had my name not been on our mortgage or bank accounts, I'd have been in a real pickle, with a small child to raise.

I think you should take one step at a time. Get your name associated with the property you occupy first. Then think about buying something to rent out. But make sure you have your name on every single thing! Anything else is just pure folly. You are either in a relationship or you're not. 

Mojisola

As it may take a while to sort out, get your home rights registered with the LR now.

www.gov.uk/government/publications/notice-of-home-rights-registration-hr1