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Remortgaging - single to joint mortgage
parismirror
Posts: 1 Newbie
I moved in with my partner in April 2023. He owns the house (bought it 12 years ago). His mortgage is due for renewal in March 2024 and we are thinking of adding me to the mortgage.
I'm not sure how this would work in practice - I would own a small percentage of the house/equity? I assume we would need some kind of legal agreement drawn up? We are mainly thinking about if we break up - protecting us both.
We have combined our finances so we have a joint account that both our salaries go into and all outgoings come out of.
Any advice would be appreciated as it's a bit of a unique situation so I can't find much online.
Thanks!
I'm not sure how this would work in practice - I would own a small percentage of the house/equity? I assume we would need some kind of legal agreement drawn up? We are mainly thinking about if we break up - protecting us both.
We have combined our finances so we have a joint account that both our salaries go into and all outgoings come out of.
Any advice would be appreciated as it's a bit of a unique situation so I can't find much online.
Thanks!
0
Comments
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It's not particularly unique. You just need to check the mortgage company are okay with this (which should be fine) and then decide on the percentage split that you will own. The default is 50 / 50.
Then speak to a solicitor to draw up the paperwork.0
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