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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.

K8Middleton Tue 09-Jul-13 17:06:20

What possible objective justification could they have for lending you less because a SAHM is on the loan too?! That sounds like it would breach equality legislation.

I hate lenders who behave like this sad

HystericalParoxysm Tue 09-Jul-13 17:18:30

Mortgages and deeds are separate things. You should be on the deeds.

LandRegistryRep Thu 11-Jul-13 14:00:40

It can be the case that a single borrower might be lent more that a joint one where both are not earning when the mortgage is taken out. Lenders may vary though.
One thing to correct from one of the above posts is that you cannot have both names on the 'deeds' but only one on the mortgage but it can work the other way round i.e. two on mortgage and only one on the deeds

The only information which may be relevant to you from our website is probably our Public Guide 4 although this is often referred to in circumstances where married couples have separated for example www.landregistry.gov.uk/public/guides/public-guide-4
Once divorced the protective entry can be removed so I suspect that it will not fully answer your original question

bevelino Mon 15-Jul-13 20:50:54

If your name is not on the property register, (Title Deeds) certain lenders may let your husband remortgage or secure debts and borrow money against the value of the property without your permission. That's not to say your husband would do this to you but lots of people, mainly women are caught out by this.

MooseBeTimeForSpring Mon 15-Jul-13 21:04:22

bevelino that's where the "home rights" notice that another poster referred to above comes in. It puts a red flag on the title records at the Land Registry so it can't be sold, remortgaged or have further borrowings secured against it without the OP being informed.

The Solicitor is talking bollocks. It is possible to be on the deeds but not the mortgage.

MooseBeTimeForSpring Mon 15-Jul-13 21:06:19

Have just seen the post from the LR. I stand corrected!! I'm clearly the one talking bollocks!! blush

bevelino Mon 15-Jul-13 21:24:38

You will be ok if you have filed form HR1, but not otherwise.

LandRegistryRep Wed 17-Jul-13 15:22:10

MooseBeTimeForSpring - it is a tricky area of law and in reality the 'home rights' notice does act as a flag and probably a red one at that.
The notice does not mean the property can't be sold BUT lender's do a specific search for such entries before lending whilst a buyer whould shy away from a purchase in much the same way - if someone has a legal right to occupy the property then the value for security of a loan is diminished whilst what buyer would want a third party living in their home?
The important thing to then note is that the notice is only valid whilst you are still married (it can also be removed in other circumstances as explained in the Public Guide 4)

stella10 Mon 22-Jul-13 01:44:51

We're looking into buying at the moment and as a sahm our mortgage adviser says we have a higher income than dp alone as mortgage providers count tax credits also which I'm assuming others get?? I'd be very disapointed if they turned around now and said 'she can't be on the mortgage or deeds or whateva as she'd just your wife at home. To be honest I wouldn't stand for it. It would be like being no more than a house keeper!! Fair enough if mortgage can only be done in one name but why deeds? Also life insurance for if one of us dies I'm definitely hoping to get that and for mortgage to be payed off if so as that way its security for both of us should the worst happen. Dp couldn't work and look after 4kids if I died so he needs me like I need him!

Elara2 Fri 20-Sep-13 05:17:16

Were moving hundreds of miles as my husband found a job he loves, so i'll find work once weve moved - obviously cant work til move to the area. finding a mortgage at the moment and I want my name on it (at moment technically self employed but put homemaker as don't earn). I want the security and will be contributing to mortgage once work, and it will be our home - and yes - I have a daughter id want the property left to so easier to pass to her if im on it. when we buy it ive already discussed and hubby agreed to say it goes to her after we go. (don't want it going to parents who own homes so obviously don't need our little home, when my daughter rents - like her to have security.)

HSBC offered us less than half we need to buy a house! - where can you buy a home for 60000!! so we could afford a park home - but you cant get a mortgage for a park home so then in is the problem!! but husband doesn't believe that's because of my being on it as homemaker - think they are simply inept, probably put his income as 13k instead of 30k!! after all, they put in the wrong figures the first time they did it, apologising when they corrected it - hope that doesn't affect credit history!! we were told to see an expert advisor in the branch - they included our rent as something we need to pay when we are paying our mortgage!! and had the term of the mortgage take us over age 75 when hsbc policy is to never agree such mortgage terms. so declined because of hsbc stupid mistakes!!

sensible to have both on mortgage - I was told mortgage providers insist on it nowadays by a few sources.

Groovee Fri 20-Sep-13 06:40:17

We have a joint mortgage on dh's income alone.

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