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Getting put on the mortgage << waves manically for attention>>

(21 Posts)
Hickorydickoryfatcock Thu 31-Jul-14 07:44:44

How do I get put on my dp mortgage??

He seems to think we would have to remortgage, I thought it would be a quick trip to solicitor.

Also he has a BTL house he rents out which s bigger. Bigger garden. What would we have to do to change it over and myself be added to that mortgage ?

Which is the least faff?

Oh wise MN please assist . A-thank you smile

Hickorydickoryfatcock Thu 31-Jul-14 07:49:06

Helloooooooooooooo [ listens to the echo]

leadrightfoot Thu 31-Jul-14 07:51:29

You need to be on the mortgage documents as well as deeds so depending on mortgage company may well be a remortgage scenario. Ring and ask.
Also need to change deeds (solicitor)

What you chose to do with BTL is separate but if you want to change that then same as above although may not require BTL remortgage as this is done on rental income potential

Fees likely from both mortgage companies though!

Takes anywhere from 3 to 12 weeks in my experience depending on mortgage co mostly and if get need a valuation sound survey etc

penguinplease Thu 31-Jul-14 07:55:09

Well it's remortgage in a sense, you can't just go on it, you are credit checked etc. can cost up to £800 with the necessary legal docs . We did it a few yrs back.
Speak to the mortgage provider, they may have a process for this

Hickorydickoryfatcock Thu 31-Jul-14 07:57:24

Oh god I've got bad credit from when I was younger sad

Hickorydickoryfatcock Thu 31-Jul-14 07:58:44

If we got married would I automatically get added ? (Easier route)?

kim147 Thu 31-Jul-14 08:02:20

Can you get on the deeds without getting on the mortgage? You can get deeds which basically say what percentage is each persons. Makes things easier if you were to separate as you have a right to the assets as you are unmarried.

Or get married.

FrontForward Thu 31-Jul-14 08:03:06

Mortgage is a debt that is agreed between the lender and borrower. You were not part of that legal contract.

If you want to be you need a new contract. This might mean remortgage but might not. Ask them

I didn't remortgage when I removed my ex.

Presumably you are planning to go on the deeds as well otherwise you're accepting a debt but not receiving anything?

FrontForward Thu 31-Jul-14 08:05:25

Actually ...why do you want to pay DP's mortgage for him? Presumably it is to have ownership and not just altruistic in that case you MUST be on the deeds and I'd have thought conveyancing costs would be incurred

penguinplease Thu 31-Jul-14 08:08:32

No getting married doesn't change the need for a credit check.
Check your credit file before you do anything else, bad credit fades away after 6 yrs

Serenitysutton Thu 31-Jul-14 08:11:41

Marraige makes no difference - the bank is lending money to someone. They need to be sure they want to lend that money to that person, not just that person + whoever they decide to marry.
As above, you may need a remortgage, you may just need to pay a fee and go through their application process + credit checks and changing documents.

Bad credit when you were younger won't be relent assuming it was more than 3 year ago/ settled and not as serious as CCJ/ bankruptcy. But you need to look at your credit files before you approach the bank and working on sorting them
Out.its suggested you leave 6 months for this as correcting errors/ updating is lengthy.

Personally is wait until it comes up for remortgage and
Do it then

atticusclaw Thu 31-Jul-14 08:13:09

Why do you want to be responsible for your DPs debts if he defaults?

Presumably what you mean is how do I get put onto the deeds of the houses which is a completely different thing. If you want to be an owner of the property you will need to change the deeds which will involve land registry fees and legal work. You will also, if the house is mortgaged, need the approval of the mortgage company which involves further fees. You are then responsible for paying the mortgage if your DP doesn't. All of it, not just a share.

If you marry you will gain some rights over your DPs assets but would still need to go through the same process if you wanted to be named on the house deeds.

Hickorydickoryfatcock Thu 31-Jul-14 08:13:53

We've been with each other four years now, we have a 15 month dd. We both work , we have joint account. I just want to protect myself and dd if we did split.

My friend just left her dp after 20 years. She contributed to the mortgage in all that time but left with nothing but black bin bags sad

Get married (if you do indeed want to spend the rest of your lives together), get on the DEEDS, not mortgage, and open a private savings account that he has no access to/knowledge of.

Castlemilk Thu 31-Jul-14 08:18:01

If you want to protect yourself and your DD, GET MARRIED.

Simple as that.

FrontForward Thu 31-Jul-14 08:18:06

Being on the mortgage just means the bank can chase you if your DP defaults. It doesn't confer any rights on it's own. It might show you have paid into it but it DOES NOT GIVE OWNERSHIP

Sorry for shouting but I get really frustrated at lots of threads where women want to be on a mortgage and don't seem to grasp that DEEDS are the document that describe ownership not the mortgage.

It's like getting your name on a bank loan (being liable for the debt and paying it every month) but DP has the car ownership V5 document. You could pay the loan. He owns the car.

Serenitysutton Thu 31-Jul-14 08:18:33

It depends on how heavily mortgaged the properties are. If they are anything more than about 60% LTV the bank are highly unlikely to consider allowing you on the deeds without being on the mortgage.

Also, consider what being on the mortgage and deeds will actually get you in the event of a split. The deposit and payment to date have still been made by your dP, it will be a long time before you bring enough to the situation to even that out.

penguinplease Thu 31-Jul-14 08:30:28

I assumed you wanted on it to be joint contributor and decision maker rather than it being his house! If you are simply protecting yourself then either get married or get on the deeds, it will cost you a solicitor fee.

treaclesoda Thu 31-Jul-14 08:50:45

Lenders are very unlikely to allow you to go on the deeds without also being on the mortgage because if they allow that, then your partner could, theoretically, stop paying the mortgage yet the bank would be powerless to repossess the house because you are joint owner and you aren't on the mortgage.

IndridCold Thu 31-Jul-14 09:06:57

We have just done this. You don't have to remortgage but you will need the permission of the mortgage company to be made a joint owner.

You will need to go to a solicitor, it cost us about £800.

butterflybuttons Thu 31-Jul-14 09:10:51

Just get married - that is the best way to protect yourself and your DD.

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