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What could be the problem if my name is not on the deeds?

(36 Posts)
mamafridi Tue 09-Jul-13 00:03:35

My husband and I are about to buy a place, but because I am a SAHM our mortgage will be in my husband's name only and this apparently means my name can't be on the deeds. How will this affect me if we were to divorce? I ask because half the deposit was money I saved.

hellsbells99 Tue 09-Jul-13 00:13:39

I had this problem a few years ago - in my case I already had a mortgage and was renting my house out. The solicitor I spoke to said it wasn't a problem as we were married, as opposed to just living together, except I needed to make sure I was named beneficiary in my husband's will.

prh47bridge Tue 09-Jul-13 00:16:35

As hellsbells99 says it is will have no effect if you divorce. The house will be part of the assets to be split between you regardless. If you were unmarried and living together that would be another matter.

mamafridi Tue 09-Jul-13 00:59:21

Thank you ladies, you have put my mind to rest.

K8Middleton Tue 09-Jul-13 01:02:35

Unless you have bad credit being a SAHM is it a reason not to be on the mortgage. I would get on the mortgage and the deeds.

K8Middleton Tue 09-Jul-13 01:07:09

Forgot to add, you need to think about what will happen if you predecease your husband or if your husband dies. If the house is clearly shown to be a joint asset you can will it as you see fit. If it is not a joint asset you have no say and your husband could decide to will it to the cats' home and although you would have legal right to challenge it if you or your children are dependents it can be expensive and time consuming to sort out.

NatashaBee Tue 09-Jul-13 02:57:15

There's a form you can fill out to register your interest in the property - saw a post about it on here a couple of weeks ago but can't remember the name of the form!

babybarrister Colombia Tue 09-Jul-13 09:21:14

I agree that it has no effect but I am also VERY sceptical that you could not go onto the mortgage AS WELL AS your DH and hence then onto the deeds. Why wouldn't a mortgage company want a further potential guarantor for their security?

SignoraStronza Tue 09-Jul-13 09:25:24

The mortgage is in both our names but only based on dh's income as I was in a minimum wage very p/t job, so it wasn't taken into account. My name is on the deeds as well.

I was v. surprised when the mortgage company (Brittannia/Co-op) were happy to put me on the mortgage, as HSBC wouldn't countenance it when I spoke to them - they were actually really rude and patronising (was pg at the time).

SoupDragon Tue 09-Jul-13 09:27:24

You need to go to the land registry website and find the form to fill in about "home rights" This puts a charge on the property in your favour meaning, I think, that your DH can''t sell it without your permission (or something - it's probably more technical than that but it protects your right to live there)

Aetae Tue 09-Jul-13 09:28:18

As far as I know different lenders deal with it differently. When we sp

Aetae Tue 09-Jul-13 09:30:33

Oops stupid phone!

When we spoke to HSBC they said that for DH to be on our mortgage (and therefore deeds) he would have to be listed as my dependent as his business isn't making any money at the moment, which would negatively affect our eligibility. But as Signora said not all lenders have the same criteria.

SoupDragon Tue 09-Jul-13 09:31:15
LieweHeksie Tue 09-Jul-13 09:32:44

I didn't count towards what our lender would lend us as I was a student at the time. But I have always been on the mortgage and on the deeds.

caramelwaffle Tue 09-Jul-13 09:37:02

You can have your name on the deeds (ownership) without having your name on the mortgage (liabile for payments)

As a married person you can have your rights to the property asserted through the Land Registry.

Spero Tue 09-Jul-13 09:39:11

You are protected by way of your marriage, this is a marital asset and could be divided on separation. If you have given sums by way of deposit, make sure you have a clear record of this in case you have to rely on it later.

But I would want to know more about why you 'can't' be on the mortgage.
You both need to be on the same page about what marriage means to you both, it shouldn't be about each clinging to 'their' assets.

Floggingmolly Tue 09-Jul-13 09:39:36

I'm a SAHM and my name is on the deeds confused

Kaekae Tue 09-Jul-13 09:53:51

I have this same problem. We owned a house together then sold it when I became a SAHM therefore, I no longer had an income when we got a new mortgage. I paid half of everything into our our house and put up a large sum of money upfront for our new mortgage. However, I was unable to go on the mortgage or deeds for the new house because I was not earning at the time. We have spoken to solicitors and the mortgage company and for some reason or another I still can't get my name on the deeds or mortgage. Really worried as we aren't married.

Message withdrawn at poster's request.

AnneEyhtMeyer Honduras Tue 09-Jul-13 09:59:19

This is nonsense. When we took out this mortgage I wasn't working as I had left my job to move to a different part of the country. I am on the mortgage and on the deeds. I wouldn't dream of having it any other way.

fubbsy Tue 09-Jul-13 10:45:07

Who told you that your name can't be on the deeds? Not your solicitor, I hope.

When we bought our first place, I was a full time student and not working, but my name was on the deeds.

notcitrus Tue 09-Jul-13 12:05:47

I think most banks don't want to lend if someone else other than them and the mortgagee has an interest in the property. I was on the deeds but not the mortgage for our first flat, and the bank was shocked when we came to sell, as apparently that was against their policy, and banks since have only agreed to lend if we're both on the mortgage.

Though presumably I'd have an interest even if not on the mortgage or deeds, given all the forms our lodger has to sign when we remortgage, to confirm they don't.

K8Middleton Tue 09-Jul-13 12:16:03

The mortgage company should be using household income to calculate the amount they will loan. Blimey I'm not even old and I remember housewives homemakers on mortgage applications! Some of them had never worked!

The problem isn't if you are married and get divorced, the problem comes when the person with the property dies. There is nothing to stop the dh leaving the house to the children. All fine now but when they grow up and sell it out from under the op? Or if the op died and her dh had a new family there would be nothing to stop him leaving their house to the new family. These may sound extreme but they can all happen even when people truly believe they are acting in everyone's best interests and being very fair.

Obviously this is a lot of "what ifs" but that's what financial and estate planning is for.

Also notcitrus is right. The mortgage company has strict terms and conditions about second charges and additional interests on properties. If it ever came to repossession they will want the best chance of recovering their money.

mamafridi Tue 09-Jul-13 12:24:18

Our lenders calculated that we would be lent less if my husband and I were on the mortgage as I am not working. It was both the solicitor and lenders who informed us that my name could not be included on the deeds. I am going to check the land registry website and see what it it says.

babybarrister Colombia Tue 09-Jul-13 14:48:06

The poster who is not married and is not on the deeds needs proper legal advice - you are in a VERY precarious position

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