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Mortgage/deeds in sole name

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  • Mortgage/deeds in sole name

    Hi,

    My husband is at university at the moment and is not working. I have just been through a prelim mortgage application and discovered that as my husband has no income we would have a better mortgage offer if only I took the mortgage. This would also mean that he would not be on the title deeds and have no claim to the property in event of us separating (not that we are planning it). Is there any way of protecting both our interests on this so that we both have security with the property and neither of us lose out financially?

    If I haven't explained anything very well please ask questions!

    Thanks for looking

    Sam

  • #2
    Assuming that we are talking about the position under English law (I cannot comment on what applies under foreign jurisdictions, even Scotland) and assuming you are, indeed, married (not just living together), then your husband will have a right of occupation and the house will be treated as a "matrimonial asset" without any other action. Hoverver, if you want the position set out clearly, you could arrange for a restriction (in form N, I believe, from memory) to be entered on the title register for the property, requiring your husband's consent before the property can be sold
    I hope this helps
    This is based on my experience as a conveyancing solicitor in England, but I do not accept liability for information I give in this forum

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    • #3
      What would you do after his uni time? If its solely in your name, its your credit that gets shot to pieces and not his if you don't pay... be aware of all the implications before you agree.
      100% Mortgage

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      • #4
        ... and if you are both borrowers unable to pay, then both your credit ratings get "shot to pieces" - is that a better scenario? I think not!
        This is based on my experience as a conveyancing solicitor in England, but I do not accept liability for information I give in this forum

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