Putting name on deeds of house?

[srsb]

Myself and my fiance are currently applying for a mortgage. He inherited an old farm house about 6 years ago and we plan on renovating this and building within planning but my name has to be on the deeds to continue with the mortgage.The house is valued at €25000 but i am wondering what costs will be involved and if we are better off waiting until we are married?
Thanks

 

[LDFerguson]

Myself and my fiance are currently applying for a mortgage. He inherited an old farm house about 6 years ago and we plan on renovating this and building within planning but my name has to be on the deeds to continue with the mortgage.

Why? Some lenders will accomodate a mortgage where there are two people on the mortgage and only one on the title. If yours won't, try a different one.

The house is valued at €25000 but i am wondering what costs will be involved and if we are better off waiting until we are married?

I'm not a tax professional, so you should get tax advice from an accountant on this. But I think that if your fiancee transfers the property into joint names with you, he is giving you a gift wirth €12,500 (half the house). As this is below the exemption threshold for Gift Tax, it should be okay froma tax point of view.

 

[srsb]

Thanks LD Ferguson. You were right. I was within threshold. All done with no tax implications.