Can I have the mortgage in my name with no income?

Posted on 8 February 2010 by lynda clark

I am separating and we have a house worth £400k with £160k joint mortgage. I wish to be sole person on deed so I can leave it to my children etc but do not have the income to remortgage. My husband, who will continue to pay the mortgage as part of the settlement is prepared to guarentee a sole mortgage in my name using his income of currently 55k. Early talks with Mortgage holder seems this is possible. Any snags I'm not seeing?


This is a difficult situation for all parties involved, including the mortgage lender.  They have to decide whether to allow the property and mortgage to be transferred into the name of a person who can not afford to make the mortgage payments on their own.  I am reassured that early talks are looking favourable.

The main snags in this arrangement are not for you, it would give you ownership of the property and the ability to dispose of it as you wish, but for your husband.  He will be in a situation where he has no claim to the property and is still responsible for making the mortgage payments.  In these circumstances I strongly recommend that you both seek independent legal advice.


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

You are currently offline. Some pages or content may fail to load.