Half Sole

Half Sole
Can you have a mortgage only, but jointly owned a house?

I am buying a house with my girlfriend. I stand with a car loan so the amount you can borrow less as a couple for my girlfriend on her own. It therefore has the mortgage on your behalf. I will be paying half of the mortgage and half of the deposit along with the renovation of the property. I asked our lawyer about a lease agreement or lease in common together, but said he would notify the lender and not proceed unless we had a joint mortgage. Is this true?

If the two are in the title to the property, the lender will want both of their signature on the mortgage. Which means you are as responsible as her. If title to the property is the unique name of his friend and she qualifies for the mortgage on your own, you are not responsible for the return and / or problems resulting from failure to pay the mortgage unless enough foolish as to co-sign the loan. If you feel comfortable contributing to its investment in this house with their savings, earnings and cash contributions, go ahead, but do not expect to participate in a profit of a future sale, it is not the owner. Things can get really nasty when the surface of dollars.

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