If your name is on a mortgage, do you own the property?

[seoladair]

DH's parents couldn't remortgage a few years ago due to being in their 70s. They wanted to extend the house so got my husband to put his name on mortgage.
He keeps telling me we can't move away to an area I want to go to as his mother might disinherit him. But surely he is a co-owner?

You can be on a mortgage without being on the deeds but your dh should know if this is the case. A quick search on the land registry will confirm this without his parents knowing. It is very uncommon and the mortgage lender should have insisted your dh had legal advice if this is the case.

Then if he is on the deeds it depends whether he is a joint owner or tenant in common. This should have also been discussed in length. Joint owner will give him equal ownership with any other parties to the deeds / mortgage. Tenants in common is a specified percentage.

The mortgage company may be able to confirm both points.

Why would he be disinherited if you moved though?

Does he pay towards the mortgage too?

Your dh may also be a 'guarantor' to the mortgage which means he has no rights over the property but would be called upon to make the mortgage payments in the event of arrears.

Oh that sounds worrying.
So if MIL defaults, he could be liable?

Yes he is liable for the debt and may not have any financial interest in the property...

Thank you. I wish DH q

Sorry. I wish DH would explain things to me.

No, you own the equity and the money owing on the mortgage.

Does your dh have copies of the paperwork? Mortgage statements etc?

Sorry, as everyone else says, you don't have to be on the deed to be on the mortgage (but it could have been done so check).

Recently I became aware of someone who was being sued by a bank because the house was foreclosed on. He had removed his name from the deed thinking it removed any liability with the mortgage (strange story as to why he was on a multiple person mortgage but didn't have to make payments). So now he's fighting to prove it's not his property, and not his problem but it's unlikely he can.

No, he doesn't own the property unless his name is on the title. The best way to check is to get a copy from the Land Registry (about £7).

That said, I'd be surprised if the mortgage company lent him the money if he had no rights or interest in the property. If the mortgage payments were to fall into arrears, the lender wouldn't be able to repossess the property. In other words, the mortgage given to your DH can't be secured against the property. Are you sure he isn't simply a guarantor on the mortgage?

Thanks for helpful replies. I only have mobile internet for a few days. Will reply properly soon.

I think you need to check, my dad is guarantor on my mortgage, it just means he is liable should we not pay but he has no rights to the property.

If the property is in England & Wales and registered you can check the register for £3 online www.landregistry.gov.uk/public/property-ownership
If his parents are in their 70s and have owned the property for a long time then there is a chance it might not be registered and there will be no information available.

If it is registered then the legal owner(s) will be recorded in the B Proprietorship Register. The details of the mortgage will be recorded in the C Charges Register as a Registered Charge. The charge entry will only refer to the date and name of the lender.

If he has been added as a guarantor only then his name will not appear on the registered title

Come back and let us know what you find out.