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Original poster

Mortgage question... Whose name?

9 replies

TopazMortmain · 14/01/2012 14:16

DH and I are buying a house and earn the same. We have both saved the rather large deposit. He has applied for the mortgage and it will be in his name. Does this put me in a vulnerable position at all? Do I still have rights re the house? Very easy to add my name... Just making sure am not about to make a huge mistake which will come and bite me in the bottom later...

OP posts:

WowOoo · 14/01/2012 14:19

We both have our names on it. Joint ownership. We did it so that we can both manage it and make overpayments when we can afford to.

If your name isn't on it, he owns it I would have thought. Am sure someone in the know will correct me..

CogitoErgoSometimes · 14/01/2012 15:19

As you're married, it is assumed that assets acquired during the marriage are joint when it comes to divvying up the cash in the event of a split. The same applies in practice to any outstanding mortgage. So you're not vulnerable. However, I would personally feel uncomfortable living in a house which on paper is financed and therefore owned by a husband, especially if I was putting down a deposit and paying half the mortgage. I would need my name on both the mortgage and the deeds or it would feel very unequal.

purepurple · 14/01/2012 15:27

Our mortgage is in both our names even though I wasn't earning any money when we took it out. I now earn half the monthly mortgage but it is still half mine Not a bad return.

nocake · 14/01/2012 15:44

As long as your name is on the deeds you are a joint owner of the house, irrespective of the name on the mortgage. However, if could cause problems in future if the mortgage is not in joint names because the bank will not be able to talk to you about it.

I would make sure your name is on both the deeds and the mortgage.

Xenia · 14/01/2012 16:08

If the house is going into joint names the mortgage company will insist both in the couple are on the loan. It is all very strange here. I would get it altered before the house is bought both as to house title and loan. If you do not he could do all sorts of silly things later like remortgage and using the cash to set up a mistress etc etc.

Get your name now on the mortgage and house before the thing goes through and ask him why he did not suggest it first?

catsareevil · 14/01/2012 16:17

Why has he done this? Was there a reason for it only being in his name?

BrandyAlexander · 14/01/2012 16:17

No way would I do this and I would actually be suspicious of why dh only wanted his name on the mortgage and/or deeds. My mil has always been a sahm/housewife and the house is in both their names. I respect both pil all the more for it.

Original poster

TopazMortmain · 15/01/2012 09:33

Thanks everyone. It's not that he wants it to only be his name, it's just the are in the process of buying a buy to let and I am being spectacularly blasé about the whole thing.

My name will be on mortgage, deeds and all based on your your advice.

OP posts:

Xenia · 15/01/2012 13:39

Excellent. Probably it would not have mattered but sadly it's fairly common for a spouse to remortgae and use the funds to keep an ailing business going or fund a mistress or manage an exit from a relationship and it you are not on the deeds or mortgage they can do that without your knowing.

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