House deeds

[egan999]

My wife got the mortgage on the house we live in as I am not in a position to go on it as I am a full time student with no income. She would like to put me on the deeds. Can she do this without me being added to the mortgage?

[gina32]

yes she can

[dzug]

The mortgage company would have to agree to this as effectively she is giving away ownership of half the the house.

I'd be surprised if they said yes. If your wife defaults on the mortgage and they repossess they would only be able to sell half the house.

[dannydingbat]

No she cannot!!! Firstly, income or the lack of it, does not determine who goes on the mortgage. When I worked for a building society, we granted mortgages to an 84 year old who had no income but plenty of capital as savings. Its the security that is important. Anyway, being put on the deeds means you becoming a part owner. If you are a part owner, you cannot have a legal interest in the property without also committing to be reponsible for repayment of any loan outstanding on it. That is because the lender will not let you assume a right to occupy the property which takes precedence over their right to possess and sell the house in the event that the mortgage is not paid.

[chitchat]

Danny is right you cannot be on the deeds without being on the mortgage.

[Joowlie]

When my husband and I bought our first house together, I was a stay at home mum and I was named on the mortgage and obviously the deeds. I did not have an income and there was no problem - so go for it.