• Transfer Of Title Options

    By Guest on 10th Mar 2015

    My partner and I bought a house 7 years ago and at the time of purchase he was working on temp contracts and we were advised to do the mortgage soley in my name. We would now like to add him to the mortgage however our recent financial difficulties means we would not get a good credit rating so I fear this would affect a new mortgage for Transfer of title. Are there any other options of documents that could be written up that would give my partner the same rights as begin on the mortgage until our credit ratings improve and we can do the Transfer of Title with the mortgage lender?

  • 1 Answers

    By Guest on 17/03/2015

    There is no perfect substitute for him being a joint legal owner however you could enter into a declaration of trust, which could be protected by a restriction on the property title, in which you agreed to hold the equity (the money that would be left if the property was sold and the mortgage paid off) in equal shares

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