Mortgage in my husbands name only!

[Chloe1973]

I have been with my husband for 16 years, married for 6 years. We have two children (5 years and 13 years old). We currently have a joint mortgage on our family home which we have now outgrown. We recently found a really amazing home just outside of London which we want to buy. We initially applied for a joint mortgage which was denied due to my bad credit. The mortgage advisor then tried with just my husband and the mortgage was accepted. My husband asked me how I felt about this and what I wanted to do i.e wait until my credit improves which may take years as I have 2 defaults. I feel sad to even question this but I worry that if (worse case scenario) our marriage breaks down then I’ll be stuffed! Although our marriage is currently very strong we have had some trust issues in the past. Should I go ahead and move forward with this purchase or wait until we have rebuilt my credit? We are keeping our current home to rent so will still have this home.

I'm not on our mortgage. I had a default from when I was a post graduate student (before the better finance options of today) it dropped off last year and my credit score is looking better month by month. It is a gamble but I would not want to rent until we could get a joint mortgage. So it made sense. We've been together 16 years so it is about trust. But as you're married I think it would be sad to think you didn't expand your home on the off chance you break up and it doesn't go 50/50.

@Hotandknackered

I'm not on our mortgage. I had a default from when I was a post graduate student (before the better finance options of today) it dropped off last year and my credit score is looking better month by month. It is a gamble but I would not want to rent until we could get a joint mortgage. So it made sense. We've been together 16 years so it is about trust. But as you're married I think it would be sad to think you didn't expand your home on the off chance you break up and it doesn't go 50/50.

Good advice thank you

@DancingInTheGarden

Are you in Scotland? Because if you are then laws about property and marriage are very different from England and people might not be giving the correct information. Otherwise ... as you were

Thank you, we are in London

The mortgage is the debt

The deeds is the property ownership.

You can most certainly have your name on the deeds and not the mortgage. I have.

Plus remember its your family home which is currently in your name that will be providing a deposit for the new one

My husband and I were in a similar situation, and the mortgage people told us I HAD to see an independent solicitor for advice before going ahead.

I saw a lovely man who charged me the grand sum of £5 to tell me that I still had rights to the property if the shit hit the fan and just to remember that if necessary in future and not to assume the house is really my husband's. He was very reassuring. This was only 5 years ago.

I'm not sure on the specifics, just that us being married affords me some protection even though the house is technically in his name.