Hi,
Myself and my partner's application for a joint mortgage was declined on account of my credit rating. After exploring all avenues available to us we decided the best option was for my partner to obtain the mortgage in her name only.
The lender and our solicitor has said it is not possible to have my name on the land registry title deeds as I am not on the mortgage.
How do I protect my investment in our new property in this situation. I am not legally a joint tenant or tenant in common.
We are buying in England, we are not yet married and have made unequal contributions to house deposit and will be making unequal contributions to mortgage payments, utilities, etc. We have discussed this and how mortgage value and equity value should be split should the property be sold in the future.
What do I need to do to make our agreements legally binding, bearing in mind the fact that I am not on the Title deeds or mortgage.
Can these agreements be stated in the title deeds, or do I need a deed of trust written separately? Is a Deed of trust the appropriate solution in my situation or can my name be stated and our arrangements stated in the title deed?
On a separate issue, can I file a Form A restriction in my situation to have some control over the sale of the property?
Myself and my partner's application for a joint mortgage was declined on account of my credit rating. After exploring all avenues available to us we decided the best option was for my partner to obtain the mortgage in her name only.
The lender and our solicitor has said it is not possible to have my name on the land registry title deeds as I am not on the mortgage.
How do I protect my investment in our new property in this situation. I am not legally a joint tenant or tenant in common.
We are buying in England, we are not yet married and have made unequal contributions to house deposit and will be making unequal contributions to mortgage payments, utilities, etc. We have discussed this and how mortgage value and equity value should be split should the property be sold in the future.
What do I need to do to make our agreements legally binding, bearing in mind the fact that I am not on the Title deeds or mortgage.
Can these agreements be stated in the title deeds, or do I need a deed of trust written separately? Is a Deed of trust the appropriate solution in my situation or can my name be stated and our arrangements stated in the title deed?
On a separate issue, can I file a Form A restriction in my situation to have some control over the sale of the property?