Hi all. Husband and I married 3 years. We live in family home (with child). He purchased family home before we met and house and mortgage in his sole name. I have a mortgage on an apartment (tracker) and mother in law lives there rent free so not an investment ( but not my PPR either). Both mortgages paid from our joint account.
Rate on family home mortgage is high so we approached my mortgage lender to talk about switching to them (good rates) and putting me on mortgage too.
I was surprised when the advisor said my husband could just switch on his own and take out a sole mortgage. I thought if you were married, lenders pretty much insisted on both being on the mortgage.
The advisor said I could lose the tracker if I take out a second mortgage with them and as husband has the income to be approved on his own, it's just easiest.
We will consult our solicitor re any legal downsides (for either of us). But it seems odd to me.......anyone with experience of this?
Thank you.
Rate on family home mortgage is high so we approached my mortgage lender to talk about switching to them (good rates) and putting me on mortgage too.
I was surprised when the advisor said my husband could just switch on his own and take out a sole mortgage. I thought if you were married, lenders pretty much insisted on both being on the mortgage.
The advisor said I could lose the tracker if I take out a second mortgage with them and as husband has the income to be approved on his own, it's just easiest.
We will consult our solicitor re any legal downsides (for either of us). But it seems odd to me.......anyone with experience of this?
Thank you.
