Mortagge Deeds - Joint Ownership

[sonofbullet]

I am just about to buy a property with my girlfriend where I am providing half the asking price in the form of a deposit, by remortgaging a property I own.
My girlfriend is getting a mortgage in her name for the other half, but she has been told that the deeds cannot be in joint names. Is there a way round this as I don't want to be caught out if anything was to go wrong between us.

[Ethel]

Why can't the deeds be in joint names? Who has told her this?

[sonofbullet]

The Solicitor told her that because the Mortgage was solely in her name, the initial purchase would only have her name on the deeds. She did say we could change it afterwards - obviously at more expense....

[Ethel]

Would it be possible for you to buy the house with a much larger mortgage in both names? Rather than remortgage your own property?

[sonofbullet]

For convenienece and interest rate reasons, it was better to do it this way. I believe a Trust Agreement can be formed to clarify the situation in the event of the property being sold at a later date

[wagw81]

I am just going through a similar situation, ask your solicitor to draw up a declaration of trust and post a restriction through land registry using form RX1. This will form a binding contract between you and your partner, and also place a legal charge which will appear on the deeds in your name (similar to someone lending money on the property). When you go to sell the property, your financial interest would have to be discharged to you by the solicitor handling the future sale, before the property could be transferred to someone else.