Buying a home in my name

Posted on 20 September 2018 by Phil

The mortgage on my home is in my wife's name only. We are looking to buy a second home to rent out, but want to take out a repayment mortgage. Can I take out the mortgage in my sole name or does it have to be a joint mortgage?

Hi Phil,

In theory you can certainly take out a Buy To Let mortgage in your sole name, however in practice this would limit your options, because as a non-home owner, most Buy To Let lenders would classify you as a first-time-buyer / first-time-landlord.

Therefore if you did this as a joint application, there should be more options open to you.

If you'd like to talk about this in more detail, then please contact one of our consultants on 0344 346 3672 and they'll be able to give you a better idea of how we can help.



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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