House Deeds.

adyyoung2000

I am about to get a mortgage. I want to be solely responsible for the mortgage, and have the amount determined on my income alone. But I want the deeds of the property to be jointly held with my wife. Will my mortgage lender allow this? My wife's income is very low, and she has virtually no credit history (either good or bad).

The reason I ask: My wife has been offered a tennancy surrender incentive (a tidy amount) for the council property where we live. The tennancy is in her name alone, so they will only pay out if her name is on the deeds too.

lisyloo

Will my mortgage lender allow this?

Almost certainly not.

Why don't you see whether you can get a mortgage in joint names?
You should be able to get a "decision in principle" without a search going on your credit record (make sure you check first).

michaels

Have you checked that the tennancy surrender payment can be used against the property you are interested in buying - I was in the same situation and found that the maximum price for the bought property under the scheme was about 220k - not enough to but a property round here for sure.