Mortgages and land registry changes.

slewuk

Hi All,

Not sure if anyone can advise on this but - I bought a house 3 years ago, I have a mortgage in my name only and my name on the land Registry. 

I am trying to sort out wills and it was flagged that not having my wife on the land registry forms may cause complications for the will, a solution mentioned was to update the land registry docs.

Can anyone advise if I will see problems when I renew my mortgage, if I have my wife and I on the land registry forms but apply for the mortgage only in my name?

Thanks, 
Si.

user1977

slewuk said:

I am trying to sort out wills and it was flagged that not having my wife on the land registry forms may cause complications for the will, a solution mentioned was to update the land registry docs.

Can anyone advise if I will see problems when I renew my mortgage, if I have my wife and I on the land registry forms but apply for the mortgage only in my name?

Yes, you won't be able to do that. Mortgages need to be granted by all of the owners.

Who flagged what "problems" in relation to your will?

K_S

slewuk said:

Can anyone advise if I will see problems when I renew my mortgage, if I have my wife and I on the land registry forms but apply for the mortgage only in my name?

Thanks, 
Si.

@slewuk Plenty of lenders are ok with 2 on the mortgage and 1 on the deeds. However, the reverse (2 on the deeds and 1 on the mortgage) is only considered by 2 lenders (afaik).

It's a common misconception that people without an income can't go on a mortgage. Even if your wife doesn't have an income, she can still go on the mortgage. The main scenario in which that will have an adverse impact is if there is a large background debt in her name or she has adverse credit history.

slewuk

Thank you both for the quick responses!

It has been a while since I spoke to them but the problems were flagged by one of the companies we approached about writing our wills. If I remember correctly they mentioned that even with a will my wife may not automatically get the house if she is not on the deeds, instead needing to go through probate. 

I'm keen to make the process as easy as possible in the event it happens! fingers crossed it does not :0)

Land_Registry

slewuk said:

Thank you both for the quick responses!

It has been a while since I spoke to them but the problems were flagged by one of the companies we approached about writing our wills. If I remember correctly they mentioned that even with a will my wife may not automatically get the house if she is not on the deeds, instead needing to go through probate. 

I'm keen to make the process as easy as possible in the event it happens! fingers crossed it does not :0)

If you are the sole registered owner then she would need probate to transfer it into her name after your death. 

If it’s transferred by you in to your joint names then probate would not be needed as the legal ownership passes to the surviving registered owner  

user1977

slewuk said:

It has been a while since I spoke to them but the problems were flagged by one of the companies we approached about writing our wills. If I remember correctly they mentioned that even with a will my wife may not automatically get the house if she is not on the deeds, instead needing to go through probate. 

It would cut down slightly on the admin, but it's not really a "problem". Depending on what the rest of your estate comprises, it's likely she'd need to get probate anyway. Plus you're probably not still going to own that house by then!