remortgage in husbands name??? my rights..............

[IHadADreamOnce]

If anyone can help I would be very grateful. We are currently looking for a loan for home improvements. I have a CCJ, (long story short I was fighting an over payment dispute with a previous employer and gave up after a bereavement and falling pregnant and it became to stressful too fight) We discovered the best deal available to us (due to CCJ) was a remortgage in only my husbands name and my name removed from the mortgage. I am not comfortable with this. I love my husband and we have 2 children but no-one knows what the future holds and it makes me feel uneasy not being on the mortgage (Also I have paid a lot into it before coming a SAHM) My husband thinks I will still have rights and can't see the problem and has offered to have a lawyers letter made up stating my half ownership. Is that the same as having my name on deeds/mortgage? We are going to end up in a much higher apr loan if I dont agree....help please!

I would advise against this if there is any other option at all, you will have some equitable rights to the property as you are his spouse and you live in the property but your rights will not be as protected as if you both jointly owned the property. If there is absolutely no toehr way then you could ask for a home rights notice to be placed on the property which would record your interest in the property.

Have you now repaid the CCJ and if so have you written to the court to ask them to show that it is 'settled' on their records?

Your lender would also need to agree this as you would have to be named as having a beneficial interest in the property on the deeds.

I may be wrong so please check but if you're married and you both own it as joint tenants I don't think it makes any difference whether you are on the mortgage or not.

Ttichy, the bank cannot take a legal charge over a jointly owned property given by only one of the owners so she would no longer be a joint tennant - or even tennant in common.

Can't you get a deed of trust from solicitor stating amount of equity in each name and how profit would be split in event of breakdown of marriage? We have one of these for the opposite reason - We have a joint mortgage but the equity in the house is mine...

The problem with Lotus's suggestion is that your DH will hold all the cards to to speak, if he has any other charges on the property or if he gets a CCJ then a charging order was placed on the property these would stand ahead of your rights.

OP you can't own a bit of a property merely because you're married to its owner or you live there. You will have to execute a deed of trust at the same time as the transfer into your H's sole name. This will say that holds the property for both of you equally.

You can then (I think) register this at the Land Registry in some form. It will also be an overriding interest, which is an unregistered interest of someone who is occupying the property and which will therefore stand against 3rd parties. Therefore your interest in the property under any trust will be safe from other creditors of your H.

What Collaborate said.

Thank you all, I will look into the deed of trust and registering it at the land registry. That sounds like a good option. overcooked thank you, I have paid the CCJ in full and had no idea I had to ask the court to put it as settled on there records, I will look into doing that today.

Crap! I should have said I was in Scotland....does that make a difference? would the deed of trust work the same?

I have no idea about Scottish courts or property rights I'm afraid!

I don't know. STIDW is based un Scotland and may have a view. I'd guess at you being able to do something similar.