two people on mortgage one name on deeds, Possible?

dwayneburke

two people on mortgage one name on deeds, Possible?

Im buying my parents place so availing of the father to son 50% cut in stamp. (not a first time buyer).

My girlfriend is co signee on the mortgage.

I know there are legality issues here for her ppoint of view but that is a different matter all i want to know if the banks will allow one name on the deeds

A Dub in Glasgo

I would not have thought so if you are going for a joint mortgage.

nlgbbbblth

yes, this is not unusual and there shouldn't be a problem

for the above reason (stamp) or often if one party is registered for VAT

a Deed of Confirmation needs to be completed. Your solicitor should get this as part of their mortgage pack from the bank. Obviously separate legal advice must be given to the party whose name is not going to appear on the deeds.

Ensure that you make it crystal clear on the mortgage application form that the mortgage is in joint names, but title is to be in one name only. From my experience mortgage departments tend to assume that the standard offer letter is required. This does not have the appropriate wording/clauses necessary for this requirement so make sure this crucial detail is highlighted. Use three different highlighter pens if necessary.

Enii

I thought if you applied for a mortgage together both names have to appear on the deeds.

gamer

if u break up there cud be a problem cos the person on the deeds owns the property even if u paid half the mortgage.its fairer to have both on the deeds if two people are paying mortgage 50/50.even if u have to pay higher legal fees to acccomplish this,who knows whats gonna happen in 20 years.

dwayneburke

we are getting this sorted out through a benefit in trust....i.e. she would have a claim over me and not the house if anything happened..

anyway we plan to do something about that situaution fairly soon just not in the next few weeks i.e. before the sale of the house