Adding Partner onto My Mortgage

calleyw

Bossyboots wrote:

Putting someone on the deeds is the completion of one form, a TR1. There is no way that should cost £600 and you could do it yourself.

BossyBoots,

Thanks for that when I asked this question about a month ago people quoted me about £600 to get put on the deeds via a solictor.

And that had put us off as we can't afford £600.

I will not be taking legal advice as thought First direct suggested I should. Having held a mortgage before I think I do know what I am letting myself in for.

Many thanks again.


Yours

Calley

AuntyJean

Could I strongly suggest that you take into consideration the possibility of you both splitting up in say 5 or 10 years time. Who owns the property at present (or who has paid the most towards it).

There are two types of joint ownership of a property, Tentants in Common and Joint Tenants. With Tenants in Common I believe that you can specify who gets what percentage if either dies.

I am not welll up on this, perhaps one of the regular experts could advise better.

The only reason I am saying this is because my partner & I are splitting after 8 years. Fortunately, the property we bought as a holiday home was as Tentants in Common so I get 1/2.

The mortgage however, was against his home and that is as Joint Tenants. This mortgage has another 20 months to run of which I will be paying his share because he has no money at all (just been made redundant). At the end we will have to get a solicitor to sort the mess out!

(Have done some searching since Bossyboots' post and it would appear that to transfer PART of the proprerty you use a TP form. Also the application form is AP1 and mentions a Land Registry Fee payable. Is this correct Bossyboots)?