Right to Buy. Do we both have to be on the mortgage?

Posted on 4 May 2013 by Mike


Hi my wife and I have put in a right to buy jointly does that mean we have to have a joint mortgage ? She is the main tenant and has maximum discount will that be affected if I'm the one having the mortgage?

Mike,

Most Right To Buy lenders would insist that if the tenancy is in joint names then the mortgage must be too. If your wife was on the title deeds but not on the mortgage, then it would be impossible for the lender to take posession of the property in the (unlikely) event that you defaulted on the mortgage. Is there a particular reason that your wife wouldn't be a party to the mortgage?

If you wanted to talk your enquiry through in more detail, then please let me know and I'll a convenient time for one of our consultants to contact you.

Regards,

Alistair

contact@johncharcol.co.uk

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