Dp wants to buy a house ,but he says my name can not be addded to the mortgage as I dont earn enough to be considered.

[bloomsinjune]

Is he talking crap,or is he right im confused?.

We live in a rented house,he wants to buy a house for us to all move to,I want my name on the house as we have children and I will be giving up a council home,so my security really thats why im asking x .

Time to face facts your not 'good enough' for him to wed thee and he is keeping his options open. Dismiss the fella and you will have a chance to meet the 'right one' stay and not only will you be a fool one day you will be a homeless fool.

Don't sell yourself so cheap you are worth more than this mongrel

Talking crap. HOWEVER the amount you can borrow is normally 3 x sole Income OR 1 x joint income, so possibly he means that the total you can borrow is more if he applies alone as the bigger earner, and that may suit you both better. In which case let him be the sole mortgagee, but note your interest in / contributions to the house via a private contract between the 2 of you, which any solicitor can draw up.

Not true Marion.
Many mortgage lenders will lend a higher amount if only one income is considered.
When we secured our last mortgage we were told this by halifax, hsbc and several other big lenders we all went to.

Used to be single person 3.5x or joint income 3x.

This will vary.

There is a difference between having your name on a mortgage and having your name on the deeds.

You dont need to be earning to have your name on the deeds. You must insist on this before agreeing to move or you would be homeless at his whim.

I stand corrected chic. I thought that had changed.

hophop- can you explain why "not have tenants in common"?

I ask as dh and I are "tenants in common". We were joint owners but when we had our will drawn up our solicitor advised we change it to tenants in common. Reason being that dh has children from previous marriage and (fairly) wanted to ensure that if he died before me, I would be "obliged" to grant his wishes that his half of the value of the house go to his children (well, a portion of it, taking our son between us into account also). I would have done that anyway but was happy for his peace of mind,to have it written officially. Was that the right thing to do in this case? Thanks in advance if it's something you can answer, give advice on. No worries if not.

Sorry for hijack OP, and yes, as far as I'm aware (which obviously isn't much!) he's talking rubbish.

I think you can be on the deeds even if not on the mortgage

In any case, even if you earn £1 a year you can still go on the mortgage.

Either he is very dense or I smell a rat. A big fat hairy rat.

You have children together what the hell is he playing at he is a dead loss as a provider and a Man what a loser.

er, yes, i think its crap, just call any mortgage advisor or drop in any bank and ask how it works. your name can be on the mortgage as a joint name whatever you earn or not earn! and yes you can add your name later on but it will cost...

if you are paying anything towards the mortgage or he pays it and you pay for food etc, then bear in mind if and when the house is sold you will have no claim on the profit or perhaps you split up then it will be you that leaves with no home to go to and nothing to show for your 'investment" ie housework, gardening, buying stuff to make it nice etc

of course, you will not be reponsible for the payments on the mortgage either legally, although if your dp should not make payments and lose the house, you will still be affected as you live there (credit rating)

citizens advice will help you with legal standing for you and any dc;s you have or may have.

Is he trying to tell you something?

Of course you can, but when we applied for ours, as I was a non earner (SAHM) the bank would lend DH 10 grand less than if it was just him, and we needed the 10 grand!

He's is talking complete and utter shite.

Sounds like rubbish, but I would just like to add my experience. My partner and I (unmarried) applied for a mortgage, it was accepted, and my income was taken into account. However, days before the deeds were due to be signed the mortgage company contacted us and told us that they wouldn't put my name on the mortgage. They wouldn't tell us the reason why, they would only confirm that my credit rating wasn't bad and so it wasn't that.

I concur it's bollocks, and your name can be on the mortgage irrespective of what you are earning. My name is on the mortgage, but I was a student when we bought our house, so my income wasn't counted. And when we went through the process, I still had to sign to agree to the mortgage as it was in joint names, even though only my dh's income was used as the basis of the loan.

And make sure you get your name on the house deeds, even if your mortgage is only in his name.

As others have said he is talking utter shite! I don't currently earn a penny but have managed to buy a house - I am both on the mortgage and the deeds. You need to have a chat!

No it's not howdid I can assure you it's at least 3x joint income not 1x!

A mortgage for 1x income for most people wouldn't be worth having

Do be careful getting the right advice as a friend of mine was left by her husband recently and he had never put her name on the deeds. It has caused her all sorts of problems.

I wasn't earning when we bought our house, so DH is the mortgage holder. He could borrow more money if the application was solely in his name IIRC. This was 11 years ago, btw, and we were in our early twenties. Not sure if that's relevant.

You can of course have ownership of the house. But if you really don't earn Enough think carefully about going on the mortgage. If he left you with the house, you would struggle to make the payments and of course you would never be able to remortgage (unless you earnt enough) so may end up in a bad and expensive mortgage deal.

If you don't own half, don't pay towards it either xx

Are you sure that you want to give up council housing? If this relationship ends, and you have to move out of the mortgaged house, where are you going to live? The council won't have to offer you another council house if you have voluntarily given up a tenancy one one already.

As others have said, you can have your name on the mortgage even if you have no income and don't pay anything towards it.

Imho he is not talking crap so in that case yabu. Mortgage lenders are being very conservative and only lending on solid terms. Basically and factually, it seems that your dp is buying the property in his name only, he would have had to explain his circumstances to the lender. It does not necessarily follow that you are disadvantaged by this, it could be that he is being realistic regarding your joint affordability. Are you planning a family? Is your current council house in your name?

would absolutely not give a secure council tenancy under those circumstances

CHNE, I don't understand that. We got our mortgage out 111 years ago, and we were allowed to borrow more because it was based on DH's sole income, but the mortgage was still in both our names.

I earn a pittance but my name is on the deeds and mortgages for both our properties.

He is talking shit and I would insist that if you buy somewhere and you want that security (which you do because you've just said so!) then your name should be on it.