Names on a Mortgage and the Registered Title

Posted on 9 February 2011 by Gurpreet Singh

I am looking to release equity from an unencumbered house worth £130,000 which has myself and my father as registered owners. I am looking to borrow £50,000 for home improvements, but want to make an application by myself as my father's credit status is poor. In summary, could I borrow on the property and not be associated with my fathers poor credit status?


The short answer to your question is no. A mortgage has to be in the same names as the title of the property, although some Lenders will accept additional borrowers.

However it is possible that some Lenders may be willing to take a look at a joint mortgage despite your Father's credit status. The low loan to value stands in your favour and if you have sufficient income on your own to cover the amount you want to borrow it may be possible to build a good enough case for a Lender to agree.

I believe you would benefit from speaking to one of our independent mortgage advisers. If you call on 0344 346 3672 and tell the adviser the date of your question, they will be able to look at your situation and take it from there.


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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