Mortgage in one person's name, deeds in both names?

Craig660 · 17 October 2016 at 1:03PM

Afternoon,

So me and my Gf are thinking of buying two properties.

1 house for us to live in and another flat for a investment.

Questions:

1. Is it possible to get a mortgage each, but have both our names on the deeds of each property?

So she would apply for one mortgage on her own and I would also apply for my own? Thus saving additional stamp duty?

2. Is it possible to have such a legal arrangement / document that we put state how much deposit one put in, which they will get back on the sale of the house, and then the equity is 50/50

So as an example, my Gf get's the mortgage for the house, she puts in 100k deposit.

So upon the sale of the house she gets her 150k, and then after that we split it 50/50

and vice versa for the flat, I get my deposit back and we then split the equity.

Thank you in advance.

davidmcn · 17 October 2016 at 1:19PM

Craig660 wrote: »

1. Is it possible to get a mortgage each, but have both our names on the deeds of each property?

So she would apply for one mortgage on her own and I would also apply for my own? Thus saving additional stamp duty?

Stamp duty is nothing to do with mortgages - if you mean both properties will be owned in joint names then you'll be liable for the additional rate of stamp duty on the second property.

discat11 · 17 October 2016 at 1:48PM

If any property is going to be jointly owned then both owners will be jointly liable on the mortgage too afaik.

Craig660 · 17 October 2016 at 1:54PM

davidmcn wrote: »

Stamp duty is nothing to do with mortgages - if you mean both properties will be owned in joint names then you'll be liable for the additional rate of stamp duty on the second property.

ok, understood.

So, would it be possible to get an agreement on the properties with deposits, equity split.

Mortgage in one person's name, deeds in both names?

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