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    • laulaurel
    • By laulaurel 13th Mar 17, 10:22 AM
    • 2Posts
    • 0Thanks
    Shared Ownership 50/50 Mortgage..
    • #1
    • 13th Mar 17, 10:22 AM
    Shared Ownership 50/50 Mortgage.. 13th Mar 17 at 10:22 AM
    Hiya, I live in a Shared Ownership property which I bought 5 years ago after I split from my husband. I work full time but took out 50% ownership as I am currently paying lots for childcare each month for my youngest. Since the split I have met another partner and we are looking to move in together this summer. I currently pay 50% mortgage and rent to the housing association. We love our home its great for us all and we don't want to move. Unfortunately my credit isnt great at the moment as after the split from my husband I had to take on quite a lot of debt. My question is, is it possible for my partner to get a mortgage on the remaining 50% of the property? So we each retain 50% of the house without having to combine? The reason for this is that I am unsure even with my partner I would be accepted for a higher mortgage due to my credit rating ( which I am working mega hard to get back on track!!!). Has anyone been though a similar situation or can offer any advice? Thank you
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    • kingstreet
    • By kingstreet 13th Mar 17, 10:23 AM
    • 33,381 Posts
    • 18,068 Thanks
    • #2
    • 13th Mar 17, 10:23 AM
    • #2
    • 13th Mar 17, 10:23 AM
    No. It isn't.

    He can't replace the HA. You would need to staircase jointly upto 100% ownership
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • laulaurel
    • By laulaurel 13th Mar 17, 10:49 AM
    • 2 Posts
    • 0 Thanks
    • #3
    • 13th Mar 17, 10:49 AM
    • #3
    • 13th Mar 17, 10:49 AM
    I thought as much....thanks for the quick reply! I think we will wait until my credit is a bit better. I already have an existing mortgage so hopefully we could go up to 100% or even 75% if we put in a joint application! Thank you!
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