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Original poster

Getting mortgage in partners name

17 replies

Em2122 · 25/09/2019 08:21

As I’m a stay at home mum we cannot get a joint mortgage. However if my partner applied alone, we can. However I am putting in a lot of money to the deposit and I need to have a claim to it by law. Is this in any way possible?

OP posts:

Boobiliboobiliboo · 25/09/2019 08:22

Yes. Your solicitor can help.

GummyGoddess · 25/09/2019 08:25

Quick trip to the registry office? Cheaper and easier than a solicitor.

nrpmum · 25/09/2019 08:28

You can go on as a joint applicant. Income from child benefit, etc can be used towards the mortgage affordability and the property can be bought as tenants in common with the percentage reflecting your deposit.

Original poster

Em2122 · 25/09/2019 08:30

We were going to do that but I’d rather not really, also not sure if a marriage ended after a short period it would be split 50:50..I suppose we need a solicitor to buy a property any way so we can just add something to the deeds

OP posts:

Original poster

Em2122 · 25/09/2019 08:31

Even with child benefit we cannot get a big enough mortgage to buy a house

OP posts:

StylishMummy · 25/09/2019 08:34

@Em2122 I'm a mortgage adviser, you can't have your name on the deeds if you're not on the mortgage. If you're not on the deeds your claims limited. You could see a solicitor to set up a 'trust deed' which a judge will consider but isn't watertight. Get married.

Original poster

Em2122 · 25/09/2019 08:35

Thanks, so is getting married the only way to have any claim over my money?

OP posts:

nrpmum · 25/09/2019 08:50

I don't understand how your partner can raise a mortgage in his name with you two as dependents but not with you on it unless you have bad credit.

Bellasblankexpression · 25/09/2019 08:57

How come you can’t get the mortgage? I’m self employed by pregnant and because I’m not going to be earning next year we got ours with Santander - I’m a joint applicant and my salary isn’t taking into consideration, in fact I was put down as a home maker.
Unless you have bad credit, I can’t see why your situation wouldn’t be the same, especially as you’re putting money into it?

NC4this123 · 25/09/2019 09:48

I found this same issue! I have no income except maintenance and child benefit but this actually had a negative impact on the mortgage and husband could get more on his own, strange

Original poster

Em2122 · 25/09/2019 09:59

Maybe your partner is a high earner? My partner is an average earner and we can get one but it’ll only be about 60k. We need about 125k. The only reason I can think off is that partners could split up whereas if it’s one name then the circumstances will be the same

OP posts:

Bellasblankexpression · 25/09/2019 12:43

That’s frustrating! Maybe it’s because we had a substantial deposit but we still borrowed more than you need... it’s so odd, it does seem to really vary.
I have friends in the same situation as us who borrowed more and friends in the same situation where they couldn’t get the mortgage they needed.
Hope you manage to sort it and protect your deposit - if you’re putting in a lot I’d feel uncomfortable without being able to protect it in some way

wonkylegs · 25/09/2019 13:02

Being a SAHM and not having an income in itself shouldn't affect your joint application, if you have a poor credit rating that however
may.
I'm on our joint mortgage as a SAHM, I'm actually self employed but it simplified the application and we were very lucky to be comfortably in our multiples on a single income - this is what our financial advisor suggested
If you haven't spoken to an independent mortgage / financial advisor they might be your best bet for getting a joint mortgage.
If you don't have a joint mortgage then registering a financial interest in the property is going to be much harder as mortgage companies don't like to take on properties like this as it makes their 'financial interest' less secure.

user1487194234 · 25/09/2019 18:52

Some lenders procedures mean that more can be borrowed if the SAHP is not according to the mortgage
And most (all ?) Lenders will not let you go on the title if you are not on the mortgage
A deed of trust can help but is not 100% and is only enforceable against the other party So if House repossessed you are stuffed

Notreallyhappy · 25/09/2019 18:55

Joint application 1wage consideration, tenants in common at the solicitor... unless it's changed in the last few years... That's what we did

Mixingitall · 25/09/2019 18:57

I am on the title deeds but not on the mortgage. Our solicitor advised against it on the basis that dh could remortgage and I would have no say.

Different lenders must have different rules, either look a different lender or get an agreement with a solicitor.

user1487194234 · 25/09/2019 19:08

While lots of people will have a joint mortgage in these circumstances some mortgage companies procedures mean that you can borrow more if mortgage only in the working partners name
I usually advise to borrow less and have it in joint names (but most people want /need to borrow as much as possible) or to get a deed of trust (but some people don't want to pay additional fees)

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