Conveyancing Issue

[Firefly55]

Need some advice we are buying a house and are married , we have been told by a solicitor that my husbands name cannot go on the new properties deeds as the mortgage is just in my name , we are putting down 85% of the new property cost from the sale of our jointly owned home but need to have the small mortgage- (my husband couldn’t be included on the mortgage application as he was newly self employed so the lender wouldn’t take his earnings into account ) we just need a second opinion on this as seems odd that he can’t now be down as a joint home owner - can this be correct ?

[efpom]

One the face of it - that advice seems to me to inaccurate.

The mortgagor may, (and probably will) have a right to take possession of the dwelling if the mortgagee is in arrears, and sell it to recoup it's loan, with any excess funds of sale returned to the owner(s) of the dwelling. The question, therefore, is: How is the interest of the "non-debtor", to be protected, if that person cannot show that he/she has a legal and/or beneficial interest in the dwelling?

[dslippy]

The lender chooses under what circumstances it will lend. Arrangements could be in place to lend to one of two land owners, but many lenders will properly see this as just asking for trouble.
Not lending because his income is not included is where the inaccuracy is. How many single income couples have borrowed on a mortgage?

[DE DOGS]

I can get the correct information for you once I manage to get the Daughter and Grandaughter to answer their phone. The daughter checks all applications for Mortage, Grandaughter then applies for the loan. Guess at this time they are quite busy. Answer it appears as if there is a Mortgage in place the Husband can only be added after it is granted, but the loan is in the name of the person who is employed.

[Firefly55]

Thanks for your comments all , My issue is not with the fact my husband is not on the mortgage it’s that we have been told that his name cannot be put on the new property’s deeds as a joint home owner when we are putting down the majority of the money from the sale of our previous home which was jointly owned. Maybe I just don’t understand the process but seems really odd to me

[atticus]

I struggle to understand why he cannot be joint borrower.

If that cannot be changed, you can execute a deed of trust in respect of the equity.

[Firefly55]

Thanks for your comments all , My issue is not with the fact my husband is not on the mortgage it’s that we have been told that his name cannot be put on the new property’s deeds as a joint home owner when we are putting down the majority of the money from the sale of our previous home which was jointly owned. Maybe I just don’t understand the process but seems really odd to me

[atticus]

You need to find a mortgage lender who will accept your husband as joint borrower, and therefore joint owner.