Married but not on the mortgage ?

[Hideehi]

If god forbid anything happened would i still get the usual 60/40 split ?

The situation is I have children from a first marriage and two more with new partner.
When we met I had £40k capital which has gone on clearing his debts, holidays and living expenses whilst i've not been working.
Now we're going to buy a house next spring and the deposit will come from him and he will pay the mortgage, I'll earn pin money for holidays etc.
Having been in this boat before i'm just checking i'm protected.
TIA

But surely if you are together, the default position, as it were, is to both have your names on the deeds. Did you make a conscious decision not to?

I mean no criticism BTW. I'm just intrigued. Ignore me if you want!

No. It was not a conscious decision. The 'default' position was for just DH's name to be on the deeds as he is the only one on the mortgage papers. This is because I earn nothing and we could get a bigger mortgage with just DH's earnings than we could if we did it as a 'joint' mortgage.

becky - you have just put into words what I was thinking - it seems more complicated to make a conscious decision NOt to be on the deeds and have to sign a piece of paper about haveing to get out de da dead than to just put it in joint names when you buy.

I'm just puzzled really

Read my response as to why it was not a conscious decision

hmm that sentence went wrong - I don't know where the 'dead' came from???

X posting NDP

Really? Made no difference to our mortgage. Well, obviously we could have got more if I'd been earning, but me earning nothing didn't affect the amount they would lend us based on Dh's salary IYSWIM.

ooh I have never been described as an uber-feminist. Love it. I don't think we took any legal advice when we bought our house, just did it like that naturally as both our parents had done. So actually it was traditional for me to have my name on the mortgage.

Although I do remember being shocked as a teenager when I realised that my grandmother did not have a bank account. Although she did manage to clock up 60odd years happily married before she died. But really - no bank account?

lol @ de da dead

if me and dp brought our house would it show on my credit rating and improve it at all ??
just wondering sorry for hijack

muma, that's assuming that you'd be able to get a mortgage in the first place with your dodgy credit rating.....

doesn't sound right NDP

lenders normally lend 3.5 times a single income or 3.5 times a joint income if one if you is not working

I was at the meeting with the mortgage lender, DH wasn't pulling a fast one

instead of buggering off, could he kick you out of the house (in theory she hastens to add....) as it is legally 'his'?

when we got our current mortgage, only dh's wages counted as I was temping but I still got my name on the mortgage.

I don't think that legally speaking it IS his though. If he kicked me out it wouldn't make a jot of difference legally as this house was bought during our marriage and was the family home, I would still be entitled to my lb of financial flesh. As far as I know, anyway.

But would you be able to afford an expensive legal fight?

legally I have no idea but I would feel better with my name on everything in sight

and I have smooth armpits and wear lacy bras and am clearly not an uber anything

lol mp

?

?????

BEKSY - YOU NEED TO GET ONTO MUMSNET HQ AS THIS IS A MEDIA REQUEST. EMAIL THEM AT [email protected]

YOU WILL HAVE TO PAY FOR 'RESEARCH'

BTW - You have just hijacked a completely unrelated thread....

"I don't really get all this "his" and "my" that you use qoq."

"his" debts - are debts in his name - which HE chose to take out - the car hire purchase, his credit card, the debts which he guaranteed for the business we tried to set up last year - I wasn't on ANY of the business documentation - for the very reason that if it went down the tubes (as it did) only one of us would have our credit rating severely affected.

I go out to work (my choice) and the money that is left over from my salary, the money I get for playing the organ at church, the tax credits and child benefit is mine to spend. In the same way that any money he has left over in his bank account after he's paid his share of the bills is his to spend. If he works his ar*e off getting extra sales in - then he gets the extra money, if I work extra hours at work - I get the extra money.

We 'pool' the rest of the money to spend on the household bills, grocery, stuff for the boys etc etc. But we still have our own money to spend at the end of the month.

Is this the 1850s when married women couldn't own property? I can't believe al these people whose homes are in the name of their husbands/ Wow. It's like there's another world out there I didn't know about where women don't work or earn and all the assets arein the man's name.

If you don't have the house in yhour name register your interest at the Land Registry over it so that it can't be sold without notice to you. Do that even if you're getting on great.

Usually ti's best to buy in joint names as said above but on divorce if you earn less than him and there are no other assets you may get a share of the house anyway. There is no 60/40 rule at all. The starting point is 50/50 and it depends who gets the children etc. Many women earn more than men.

"I think that as his spouse, if he defaults on the loan then the mortgage compnay automatically have the right to tap me for the cash anyway..." No, that's not true and it's one reason you might want to keep off a mortgage if you have no income. In law people are separate legal people and we don't owe the debts of the other. Howeer if he didn't pay and you couldn't afford to pay the house could be repossessed.