Hi all, I'm looking for your thoughts on the following:
I'm due to be married in 2021 (hopefully no Covid delays!) Fiancée is thinking of buying a house on her own before our marriage.
The reasoning is
I already have a house (with approx. 14 months left in mortgage based on current overpayment schedule)
If she buys on her own before married
-she is solely assessed and can get a PPR mortgage
-after we are married she could move into my house and rent out hers.
If she waits to buy until after marriage
-we would be jointly assessed, even if mortgage to be solely in her name?
-as I already have a house the bank would regard her mortgage as a BTL, so charge a much higher rate?
The above isn't in stone really. I'd rather she save the money for another use but with my mortgage almost paid off, she'd prefer an investment property.
And timing it to avoid BTL mortgage rate sounds a bit dishonest, even if we are still legally single people at that time.