Becoming joint owner of a property

[kibbles]

I live in tied accomadation, meaning that should my job finish, then I will be homeless too. My partner/boyfriend owns his own property, albeit with a mortgage. We dont live together. We have talked about the possibilty of my job ending in the next couple of years (a likelyhood) and he has suggested that I might be named as joint owner on his property if anything happens to the job, or even to him. Can I do this without becoming jointly liable for the mortgage?

[Schutzengel]

To be allowed to become joint owner by the mortgage company I believe you would have to prove that you had sufficient income, as you would then be solely liable for the mortgage should anything happen to your boyfriend, or should he lose his job. I think you may get some answers from people more knowledgeable than me. I can only tell you as I understand it to be. This is why people take out mortgage protection insurance in case of their death to protect their wife/partner, and children. I think it is quite expensive. Sorry I can't be of more help.

[kibbles]

Thanks. It is only an idea at the moment and neither of us have given it serious thought. It would all have to be done thru the mortgage folk and a solictior ultimately. Thanks for your reply.

[gentleman]

Using common sense. The Owner of the original mortgage was approved based on his income. So, it does not matter whose name is added to the Deeds as long as it is arranged with a Solicitor approved by the Loan Company.
But any increase to remortgage the property above the allowance based on the Owner's current salary the Loan Company would request if any joint owner has an income to support the remortgage.
So, in the current issue and as long his salary or the Owner can afford to meet the monthly repayment's your boyfriend has only to contact teh Loan Company and inform the Loan Company of the arrangement and use the same solicitor who arranged the original Conveyance.