2 people apply for mortgage-only 1 buyer?

[rosey]

Hi,
Myself and my boyfriend want to buy a house to live in. He is a first time buyer but I already have a mortgage.( My mortgage is on the house my parents live in so it is not an option for us to live there- however the mortgage amount per month is small)
Can both our incomes etc.. be assessed when applying for a mortgage-to increase the amount we could borrow?
However, in order to avoid stamp duty,is it possible that while both of us apply for the mortgage, only his name would be on the deeds i.e he would be the sole owner?
Any advice on this would be great- thanks,
Rosey

 

[ClubMan]

Can both our incomes etc.. be assessed when applying for a mortgage-to increase the amount we could borrow?

Only if you are buying jointly.

However, in order to avoid stamp duty,is it possible that while both of us apply for the mortgage, only his name would be on the deeds i.e he would be the sole owner?

I think you mean evade and not avoid stamp duty. If you are joint buyers then this is not legitimate.

 

[PM1234]

You can have many mortgages but approval depends on your eligibility for the mortgage.

You can apply as joint borrowers and ask the lender if they will allow sole title (only one name registered on the title deeds). It is at the lenders discretion as to whether or not they will allow this.

There are other implications to take into account. If you are a joint borrower you are liable for any repayment defaults even though you're not on the title deeds. What happens if you split up? You should consult your solicitor before doing this.

If you are doing this for the purpose of avoiding stamp duty, you need to read revenue's guidelines for [broken link removed]