Mortgage in less names than the deeds

Posted on 7 March 2011 by Roger Margetts

We currently have an endowment linked mortgage (in joint names)that is ending soon. The endowment will not cover the full mortgage and we are looking to remortgage for the shortfall (£29,000). However, my wife has reached retirement age and the only way we can get a mortgage is in my name only (still working for 6 more years !). The mortgage company have asked us to obtain a solicitors letter about having two names on the deeds and only one on the mortgage. Can you explain what this is needed for, please ?


This is a very unusual situation and I can only imagine that the lender is making sure that your wife understands the implications of you raising a mortgage on the property and that she will probably be asked to waive her rights of occupation should you default. Without this consent the mortgage company would not be able to repossess the property because your wife would have a prior claim and they could not evict her. By asking for a Solicitor's letter this will show that you received appropriate legal advice.

I believe you would benefit from speaking to one of our independent mortgage advisers because we should be able to arrange a mortgage in your joint names. Please call on 0344 346 3672 and tell the consultant the date and title of your question. They will be able to look at your situation and advise you accordingly.


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.

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