Can 1 person get a mortgage if their ex partners name is still on the deed please
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Q&A » Mortgages
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824MikeGG1 postedEven if it were possible, you don't want to do it.
Are both names on the deeds? Is there a Declaration of Trust saying anything about what should happen in the event of a split? It is so much better to agree what might happen beforehand just in case than sorting it out afterwards when it is difficult to obtain agreement.
If you did get a mortgage and the other name was still on the deeds then when you have paid off the mortgage your ex-partner would be able to claim their legal share, so you must sort it out now.
The difficulty is that it would classify as a new mortgage and would be assessed on your income only, unless you get another partner.
Mike
Mike
Posted on 07 December 2011 |
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212SoftwareBear posted
The mortgage company is unlikely to give you a mortgage on the whole property when it is half owned by someone else they have no legal hold over.
Posted on 08 December 2011 | Love 0 loves
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