Buy into husband's home

O

OlíviaBenson

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My husband and I are married 6 years and we live in the home he bought 15 years ago. Is it possible for me to get a mortgage to buy into the home or what is the most logical arrangement in these cases? My name is not on deeds or his mortgage
Thank you!
 
Hi your husband can do a voluntary transfer into both your names if he wishes. This voluntary transfer can then be lodged in the land registry and the property would then be in both names. The mortgage won't be affected. It will still be in his name alone. The only way to have your name on the mortgage would be to remortgage the property in both names after the voluntary transfer and use the funds to pay off the mortgage in his sole name. I wouldn't bother doing that though.
 
You say you are married. You don't have to do anything. The house now forms part of the marital pot belonging to both of you.

You both own each other's assets and liabilities.
 
Pinoy adventure said:
Just leaving things the way they are.
Later on in life you should both make a will
Click to expand...
A will should not be left until later. A will should be made as soon as possible and let family know exactly what you want done so there is no confusion. This could save a family many arguments and bitterness when you are gone.
 
The bank will add on you name to the mortgage if you want, unlikely you would have to remortgage to do so, you can then add it to the deeds too, more than likely the bank's permission will be needed to change the deeds anyway if there is a mortgage. That then makes you liable for the mortgage though but does offer some protections too.

I don't know that I would bother doing anything either other than making sure wills are made asap
 
"Is it possible for me to get a mortgage to buy into the home or what is the most logical arrangement in these cases? "

I'd be interested in why the OP wants to buy into the home? Rather than just leave things as they are? Or the husband doing a voluntary transfer?

And , contrary to this assertion:

"You both own each other's assets and liabilities. "

This is just not true. A married couple with kids breakup is very different to a short marriage no kids break up .

I have had clients who preferred not to transfer sole assets into joint names just to keep that dividing line.

mf
 
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