Tenants in common but single mortgage?

r6mile

Hello,

Is it possible for a house to be owned as tenants in common, but one of the tenants having a single mortgage? For example, one of the tenants owns 80% of the house and has contributed in cash, and the other tenant to own 20% through a mortgage in their own name only?

housebuyer143

No, all named people on the deeds must be on the mortgage and vis versa. 

Strummer22

housebuyer143 said:

No, all named people on the deeds must be on the mortgage and vis versa. 

Yes, although there is nothing to stop the tenants in common having an arrangement between themselves that the one who owns 20% is the one who pays the mortgage. However, if that person doesn't pay the other party would still be liable.

As a result, you can't get the mortgage lender to ignore the credit history of the person who contributed the cash.