DH has bought a flat on a buy-to-let mortgage for DSD to live in. The mortgage is in his name alone, but he says the flat is 'jointly owned'.
DH is insistent that if he died, the mortgage company would sell the flat to pay off the mortgage, but surely a jointly-owned flat (ie joint tenancy) would automatically become DSD's sole property, leaving DH's estate (DC and me!) to pay the entire mortgage?
Would any company have agreed to a mortgage on this basis? We own our house jointly, but as tenants in common, and both our names had to be on the mortgage, wouldn't this have to be the case for a joint tenancy too?
(Should point out I've absolutely no problem with DH providing flat for DSD, I just don't want her owning a property to mean DC and I risking losing ours!)
Please or to access all these features
Please
or
to access all these features
Join our Property forum for renovation, DIY, and house selling advice.
Property/DIY
Can you have a jointly-owned property with only one name on the mortgage?
14 replies
Thirdpartyworrier · 15/09/2011 15:27
OP posts:
Please create an account
To comment on this thread you need to create a Mumsnet account.