FTB, Married, but want mortgage, deeds etc in my name only?

2020GW

Registered User
Messages
9
Good afternoon.

New to this forum, seeking advice in a complex matter.

Background:
Married, 2 young children,
I am FT employed, Salary 55k, Personal Savings 75k. No loans or debts. Clean credit rating.
Spouse is unfortunately battling a long-time Gambling Addiction. His income is sporadic as might be expected. He has no savings, but thankfully also, no debts, and has clean credit rating.
Finances are completely separate, have been for some time.

We have lived for the last 3 years, with our children, at his family home, with both his (incredible) parents. My husband is a good man and a good father, marriage separation is not a possibility right now, but I have relented to the reality that owning my own home, offering my children their own space and stability, is now solely down to me.

My Joint Mortgage Query
I understand that as I am married, I must apply for Joint Mortgage (Property Value 200k, Max 18 year term, as in my late 40s).
However, as my husband will not be contributing anything towards either the Deposit or Mortgage Repayments, how can I best arrange that he can lay no claim to the property?
Am I best to have a legal agreement with him, through solicitors, before applying for a mortgage?
Once a property is acquired, mortgage drawn down etc, what should I do then, to firm up my security and sole ownership of the property?

Your advice is appreciated,
Thank You
 
I dont think you can have a binding legal agreement with your own spouse where they disclaim all rights.

If you were unmarried you could maybe buy a house in own name and invite him to live with you. But in the event of an eventual separation the courts would look through this arrangement, especially in the context of children.
 
Hi GW

A very tough one.

I presume that a person who is legally separated can apply for a mortgage in their own name and buy a house in their own name?

Could you draw up a legal separation, even if you continue to stay together?

This presumably would not affect his rights to the house, whatever they are but it might persuade the bank to lend you the money.

Is your plan that you and he and the kids leave the parents' home and move to the new house?



Brendan
 
"can I best arrange that he can lay no claim to the property"

The only way to do this is via Judicial Separation or Divorce.

There's nothing stopping you from continuing to live together & raise your children. Family Law is held in camera so no one needs to know about it.

I know of more than one couple who have gone through strategic separation in order to buy a second home / investment.
 
Is your plan that you and he and the kids leave the parents' home and move to the new house?

Brendan


Thank you Brendan.
Honestly, it would be my intention to move to this property myself with my children. My husband remains at his parents home.
 
Agree with Brendan, you need to get a JS in place.

You will need to show that you have been living separate lives, even though sharing the same address, for the last 12 months.

If you can agree the bones of the JS between you, you can have it signed off at the Family Court; it doesn't have to be contentious.
 
Then you should do a full separation.

Brendan
Agree with Brendan, you need to get a JS in place.

You will need to show that you have been living separate lives, even though sharing the same address, for the last 12 months.

If you can agree the bones of the JS between you, you can have it signed off at the Family Court; it doesn't have to be contentious.


Thank you both for offering me a direction in this matter.
 
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