Ask Me Help Desk - Add name to house deeds but not mortgage?

I live in the UK. My partner and I own a house, but at the moment the mortgage is in his name and only his name appears on the house deeds. The reason why the mortgage was not in joint names initially is because I was unemployed at the time of applying.

I have contacted several solicitors to ask if I may add my name to the house deeds without being added to the mortgage (this is the way I would prefer to do it). Most say this is not possible, few say that it can be done.

Could you please let me know who is correct? Can my name be added to the deeds without agreement from the mortgage company (and my name being added to the mortgage)?

Thank you so much for your help.

Hello HanaS:

I don't know. You're across the pond. But, I sure do have an opinion.

I seriously doubt whether the mortgage company will let you be added to the deed. Right now, if your partner defaults, they can claim the house. Neat and clean. If you're added, however, and he defaults, it's not so neat and clean any more, is it? That's why they're not going to do it.

You need to be added to the mortgage too. But, that's not going to happen unless you go through a refinance. If you do, he'll sell the house to both of you, and it will be recorded that way.

If I were you (the ONE who's left out in the cold), I would absolutely do this. Interest rates aren't bad, at least on this side.

excon

For a start, it's the bank that actually own the property, not your other half.

Your other half has signed an agreement that he will pay £xxx.xx for so many years, at the end of which he will own the property. Should you wish to add your name to the deeds of the property then not only does your other half have to agree but so does the bank. Without the bank agreeing your other half can not change the agreement.

Refinancing is the way to go, again you need your other half to agree and find a bank or building society that will lend the funds. This shouldn't be a problem providing you can show employment records or obtain details from a prospective employer. There will be charges based on the amount of money borrowed and possibly some sort of penalty clause for early payment of the mortgage. Talk with other half and speak with banks or building societies, most will not lend more than you can afford. Good Luck

If your common law, then you don't need the name on the deed to own half. It is your legal right to half of the estate that you acquired while living together.

Actually, you've got the best of both worlds. You own the place yet no one is going after you if payments are faulted!

So you want to own half of the house without actually being accoutable for any of the debt?

Doesn't seem like a very fair deal from your parteners point of view. Im not suggesting that it will happen but suppose you break up, then what? You will own 50% of the house but your partener will be accountable for 100% of the debt. Somebody please correct me if I am wrong.

Sounds like the only fair way, as suggested above, is to remortage.

I am in a similar situation however we have a child together and I am a stay at home mum. Despite not being 'paid' for my job, and therefore not able to be named on our mortgage, I still think it is only 'fair' that the home I work hard for is legally mine as well as my partners. The way I see it, if we were to split up my partner and I would share half of the equity and the mortgage company would be given the total value of the mortgage. For example on a property worth £250000, with £150000 mortgage, my partner and I would receive £50000 each and the mortgage company would get £150000 plus early repayment charges. I would not expect to own 50% of the total value of the house as the comment above would suggest and just because a mortgage company does not value the job I do I don't see why I shouldn't be recognised as a joint owner of my own home.

Quote:

Originally Posted by Scarlett2010

I am in a similar situation however we have a child together and I am a stay at home mum. despite not being 'paid' for my job, and therefore not able to be named on our mortgage, i still think it is only 'fair' that the home I work hard for is legally mine as well as my partners. The way I see it, if we were to split up my partner and I would share half of the equity and the mortgage company would be given the total value of the mortgage. for example on a property worth £250000, with £150000 mortgage, my partner and I would receive £50000 each and the mortgage company would get £150000 plus early repayment charges. I would not expect to own 50% of the total value of the house as the comment above would suggest and just because a mortgage company does not value the job I do I dont see why i shouldn't be recognised as a joint owner of my own home.

This is an old post, and as such it is not really worth commenting, but I will anyway. Since you refer to your "partner", I assume you are not married. If that is the case, in most places (U.K. included, I expect), you would not be entitled to half of anything. In other words, your expectation would be incorrect. If you want to have some rights in the property, marry the "partner".