Call us on 0344 346 3672
or arrange a callback

Can my parents own the house but the mortgage be in my name?

Posted on 14 December 2012 by Varanjeet


I want a mortgage to buy a house for the first time. but I want the house to be on parents name but the mortgage to be on my name. Is it possible?

Varanjeet,

Unfortunately it isn't possible to have the house in your parents name, and the mortgage in your name, as in the (unlikely) event that you should ever default on the loan, the lender would be unable to take possession of the property.

However there may be some alternatives to look at, though we would need more information from you before being able to go any further.

If you'd like to discuss your enquiry in more detail, then please let me know and I'll arrange for you to speak with one of our consultants.

Regards,

Simon

simon.collins@johncharcol.co.uk

More than mortgages, talk to me about:

Financial Protection | Investments | Personal and Corporate Pensions | Home Insurance

General Insurance | Valuations | Conveyancing | Wills | Home finder

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.


Legal

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.

John Charcol is a trading name of John Charcol Limited and its Appointed Representatives. John Charcol Limited is authorised and regulated by the Financial Conduct Authority. The Financial Services Register number is 665649. Registered in England No. 9157892. Registered office address for John Charcol Limited is 5th Floor, Cutlers Exchange, 123 Houndsditch, London, EC3A 7BU. The FCA does not regulate some investment mortgage contracts. Calls may be recorded for training and monitoring.