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?.

Sorry, should have said 11 years ago.

I'm a SAHM and earn sweet FA, but am on the house deeds and mortgage info. He's either thick and doesn't understand, or he's having you on, step away....

milly, that's the same as happened to us - Dh could borrow more without me being on it. Maybe depends on type of mortgage and company?

He is talking crap driftwood. You can still be on a mortgage and not be earning anything. You then become a debtor and liable for the loan

I started replying to this ages ago but my Mum phoned but I've just come back..... I expect its been made pretty clear to you by now that hes talking crap.

Unless he is genuinely oblivious to how mortgages, finances etc work () I would think long and hard about why he might not want your name on the mortgage and/or deeds.

Then the solution has to be that the OP's partner should be setting a mortgage up with a lender who will lend based on his sole income but put both their names on the mortgage.

Our lender is the Halifax, so I would think it was standard practice to put both names on the mortgage, even if one of the people has no income.

Even if the OP does get her name on the mortgage, she is crazy to move out of a council house and cohabit with someone who is not married to her and will not set up a mortgage with her name on. Her and her children could end up homeless if the relationship ends.

we bought our house when I wasn't earning anything and my name is on the deeds alongside dh 50/50

the mortgage is in both our names too though my salary was zilch

get yourself informed so that you don't get taken for a ride

I have a mortgage question, if anyone could help :)

DH and I aren't in any position to buy right now, but of course we hope to in the future once I've got a decent career. However DH is a lot older than me, so by the time we can afford to buy, he may only have, say, 10 years before retirement, where I'll have 25. DH reckons this will affect our chances of getting a mortgage, or possibly our payments would change after 10 years, but we aren't sure. Sorry for hijack but can anyone tell me how this would work please? :)

Milly ours is halifax too!

and i could have been on it but they would not have lent him as much! this was 2 and a half years ago btw

fuzzpigFriday Yes, it could seriously affect your chances of getting a mortgage unless your DP has some sort of proof of income in retirement.

We couldn't get a 30 year mortgage because it would take my OH past current retirement age (ie. 65 not 67) even though I earn more and would not be too near retirement age

I never really worried about it at the time, tbh. I was 21 and didn't really want the debt, DH was 24 and the house was an investment. I don't remember there being a discussion about my name going on the deeds, I just know that the mortgage stuff was all in DH's name. Just asked DH, and he doesn't remember being asked about names on the deeds either.

It depends on how much you earn fuzzypig.
If you've got 25 working years left, they will give you a 25 year mortgage. How much they lend will be a slightly different issue and will again be specific to the lender.

There are no hard and fast rules.

futzpig I think DH is right, if he is the main wage earner.

I can recumbent London and Country mortgage advisors (James Belfield was brill) to chat to about it - you don't get charged anything and they do all the legwork. They also give brilliant advice and know loads. worth a call just to find out where you stand.

i earn nothing but my name is on the mortgage

My ex tried to tell me this shite years ago when we were about to move into our own home.

Thank fuck I put my foot down and insist the house be in joint names (he still would have expected me to pay half the mortgage if it was his name only on it). Fast forward a few years, plus 2 kids and we decided to split. Now, even though I had his DC'S, if the house wasn't in my name also then he could have thrown all of us out.

Be very wary, as others have suggested your Dp can't be honestly figuring his future with you.
Don't be fooled

Do not move in with this man without establishing your finances on an equal footing. If this house is not being bought jointly then I would strongly suggest you have mothing to do with it.

Shakey - I am concerned about your dh's will. Do you mean that if he dies before you do your stepchildren will own part of your home? How's that going to work then? Will you be compelled to buy them out? I think it would be better if the house was yours for your lifetime and then was divided between all children either on your death or when you chose to sell it with you retaining your share.

Has anyone considered that OP's DP has just been given some bad information/advice which he has relayed to her.

He may not be trying to shaft her.

It never ceases to amaze me how little some people know about finance; even their own and this could be the case.

Basically he wants you to pay towards it without being legally recognised as being owed anything for what you've put in. D'P' you say - that means you will have no legal rights to the house when he fucks off and believe me he will.

Think myself and a couple of others suggested that Chic...though I just said maybe he's a bit thick :o

Ah bugger. We were wondering if they'd do a sort of 25year for my payments and a 10year for DH's?

I'm only just about to start work, DH's income was low anyway but he's not working now while he recovers from a prolapsed disc... So it's not gonna happen for a few years anyway. We both have very good credit ratings though, so that's something I suppose

He has asked me to speak to a mortgage company regarding this if he is wrong then he says by all means add my name to the mortgage,deeds?.

Personally, I'd rather live in a smaller, cheaper house than rely on a relationship lasting for a roof over mine and my DC head. Is there a problem with the house you're in? Could you get right to buy and have a smaller mortgage in both names?

Fuzzpig just deal with it when it happens.
Certainly mortgage lenders, depending on your assets, unsecured debs etc... have a different calculation for lending.

I don't think anybody in any certain terms can tell you what a lender will do