Hi, not sure i’m in the right place here but i’ll ask anyway.
We are a couple in our late 20’s, been together 7 years, have 1 child and i am pregnant with our 2nd.
We have always rented, however are wanting to move area due to schools and would prefer to buy but are complete novices. I am a stay at home mum, so don’t bring in any income. My partner is on £28k annually, so our mortgage offer would be i believe no more than £125k. When i worked before my child, i saved up £10k and have half of this in a help to buy ISA and half in another savings account, my partner has £5k also saved half help to buy, half savings. Due to a family berevement i have another £5k meaning we have a total of £20k for a deposit. However, when we have done online mortgage calculators, it says my partner could get £125k mortgage on his own, OR only around £76k if i was to be on it too, i’m presuming due to me being unemployed. I would like to protect my £15k deposit if the worst was to happen, that was a clause in my family members will too when i recieved the money (unlikely but don’t want to be stupid) Is there any way that i can protected my money whilst not being on a mortgage? Or is it likely that i COULD be on the mortgage and we recieve the £125k instead of £76k?
Thanks for your help ☺️