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AIBU?

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Original poster

to think the house should be in my name too

248 replies

CharlotteCollinsneeLucas · 27/01/2020 17:12

DP and I are buying a house. We're each contributing deposits of about 35% of the value, with the final 30% being DP's mortgage which he's moving over from his current house.

The solicitor's just said the legal title has to match the mortgage offer. So since the mortgage is in his name, the house has to be, too.

I feel really insulted! I'm paying for a third of this house, but I can't have my name on the deeds?

I fully admit to knowing almost nothing about house-buying, but I wasn't expecting this. It seems so unfair!

OP posts:
BengalGal · 28/01/2020 18:18

Rates are pretty low now. Forget the old mortgage and get one in both names. Then get your name on the deed. Not cool otherwise.

Alleycat1 · 28/01/2020 18:21

Fizzygreenwater is spot on. OP you must protect your investment and be legally the part owner. Otherwise if you split up your partner could make you and your children homeless and you would be £s out of pocket.

Wilkie1956mog · 28/01/2020 18:25

Get your name on there too. Never know what can happen in the future. Get some proper legal advice about it.

Insanelysilver · 28/01/2020 18:31

Did the solicitor say this to you directly, or did this information come through your DP?
I would not agree to proceed under these circumstances. I would seek advise from another solicitor as it seems strange to me.

LittleMissMe99 · 28/01/2020 18:35

NO NO NO. Don't do it. Either your name is on the house or you contribute NOTHING. Why can't you be the joint person applying for the mortgage? I did with my ex. This is absolutely the craziest thing I've heard today. Please don't do it

mdh2020 · 28/01/2020 18:36

You have to have the house on your name too. When my sisters husband died she lost the house because it wasn’t in her name and he hadn’t left it to her. He left her a share of the estate and to keep the house she had to give up an equivalent part of her share of the estate. She lost a lot of money

Wingingit247 · 28/01/2020 18:39

I’ve been an independent mortgage broker for 20 years, and I can confidently tell you that you are being given incorrect information regarding the “porting” of the mortgage. You should absolutely not be putting in your deposit with protecting it in some way. You should both be talking to a mortgage broker, not the mortgage company direct.

littlekerry8 · 28/01/2020 18:46

Get your own solicitor that is wrong. You need to protect your investment

Charlotteskye · 28/01/2020 18:49

Are you sure the solicitor has said this and not your Oh. Maybethats what he wants you to believe that you cant be on the mortgage? Either way dont sign anything over until its clear.

Jellyrunner · 28/01/2020 18:50

Most definitely get a solicitor. You need a deed drawn up to show how the property is owned. Who will own what when it is sold?

Eatdrinkbemerry · 28/01/2020 18:51

Apologies if this has been mentioned already, surely the lender knows you are putting forward a deposit?
If so you have an interest in the property unless you’ve waived that? And any solicitor would advise you both of this?
Whether you marry him or not you will always be able to show that you have made payments toward the mortgage so have an interest.

dontgobaconmyheart · 28/01/2020 19:03

Bloody hell OP do not go ahead with that for the love of god. There are plenty of options here.

Firstly I see no reason why you can't go on the mortgage, If your DP's bank does not allow this- others will or you can utilise a mortgage advisor to find you one.

If you are not on the mortgage you will need a solicitor to draw up a deed of trust for the amount you're contributing but in would sit down with a solicitor and discuss the implications of this. Bear in mind that again, certain mortgage providers may not allow that, if his does not- rearrange the mortgage with a lender who does.

Thirdly there are lenders who allow a party to be on the deeds but not the mortgage, do not listen to anyone telling you this is not the case- I literally am. HSBC allow it and so do a couple of others. You still need to follow the process with a solicitor and seek independent legal advice (they require it to proceed) and you will have to decide whether you will be joint owners (50/50 down the middle) or owners in common (ownership can be divided up based on who is putting what in and redistributed in that % if the house is sold).

For some contrast, I had to stop working due to a life limiting condition. DP and I both put the same amount into the property- he would have it no other way (as would i) than we are both on the deeds as joint owners although he is the one paying the mortgage (which is in his name). There is an assurance policy in place which pays the mortgage should he (god forbid) die. Seems odd that your DP is not concerned about your finances or financial future here...

starfishmummy · 28/01/2020 19:12

Due to some sort of misunderstanding plus being first time buyers Insuddenly got a call from our solicitor wondering why the house sale was in my husband to be's name only. Slight panic but we literally had a ten minute appointment at the building society to put me on.

Hodge00079 · 28/01/2020 19:15

I think the issue may be with the lender. When I took out a mortgage for about 40% I was gifted a large sum as part of the deposit. I had to get a letter from the person that gifted money that they had no interest in the property. Have you been asked for something like this?

Ideally you should get joint mortgage if you can. If not at the very least I would get a legal document drawn up that 35% is not a gift.

PotholePalace · 28/01/2020 19:17

Was a mortgage advisor so my knowledge may be out of date, but may give you some ammunition when dealing with solicitor or bank.

You can add your name to the mortgage, subject to underwriting checks. It will technically be a new mortgage contract because it will be based on both your circumstances rather than just your partner's. This means he can't port the mortgage product he's on, so the interest rate and terms will be different, but as it'll only be for 30 per cent of the value this may mean you get a better deal.

As previous posters have said, you can either be joint tenants, where you both jointly own the whole house. Or you can be tenants in common where you each own a set percentage of the property.

As a mortgage adviser I would never have recommended someone do what your solicitor is suggesting. Mortgage advisers are regulated so so have to offer best advice.

PotholePalace · 28/01/2020 19:22

To get a mortgage you do need to be on the deeds, otherwise the lender has no security. If you are tenants in common you could have separate mortgages for your separate percentages, but the more complicated it gets the more fees you will be charged.

juleswatford · 28/01/2020 19:22

Talk to your conveyancer or lawyer about a declaration of trust. Search the web and it will give you the info about it. Hope this helps

juleswatford · 28/01/2020 19:33

Try this link it will give you the info you need.

www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2017/what-does-a-declaration-of-trust-do/

Rtruth · 28/01/2020 19:46

a mortgage is on a property, you can’t transfer it. However the product your husband has on current property sounds like it can be transferred (known as porting).
Realistically he should have mentioned you on new application for the house and mortgage would be in both names.
Probably pretty simple to add you even at late stage (2 weeks to confirm your pay etc).
Only reason not too is to hide your bad credit or he doesn’t want you to see his out going’s on the application

Original poster
CharlotteCollinsneeLucas · 28/01/2020 19:47

Slight panic but we literally had a ten minute appointment at the building society to put me on.

Rather jealous of this - we've just spent ages on the phone but we've passed the affordability bit so hopefully we're well on our way now to both being on the mortgage and both being on the deeds.

OP posts:
Tiffinity13 · 28/01/2020 19:47

No way would I agree to putting in any share if my name wasn't on the deeds. Anything could happen.

Localocal · 28/01/2020 20:06

With a 70% deposit I think any bank will give you a joint mortgage, especially as your DP can evidence being able to afford the payments by himself. Your children are not his dependents so they shouldn't affect his eligibility.

Talk to a separate bank yourself about getting a mortgage in both names. I couldn't get on the mortgage for my house when we bought it because I was not a citizen and did not have leave to remain for the duration of the mortgage. But as soon as I did we had all the paperwork changed. It was not a problem, even though I was a SAHM with no income of my own.

BossC · 28/01/2020 20:07

If you’re not married, make sure you get a declaration of trust deed drawn up. IT’s IMPORTANT!

winniestone37 · 28/01/2020 21:37

You’re being duped, see above

PatellarTendonitis · 28/01/2020 21:40

Another woman with children relying on her for support and the roof over their heads sleepwalking into disaster all the shack up with A Man. You're being duped.

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