My husband and I have been married for 6 years and we are about to purchase a house. We are thinking of having only his name on the mortgage as my credit rating is not good (because a business I used to have was affected by the Qld floods a couple of years ago and the insurance did not pay, so as a consequence I ended up with defaults in my loans). My question is: Would it be possible to have the mortgage in only one name but still have both our names on the property title? Would the banks allow this?
WA Two Names on Title but One Name on Mortgage - Possible?
- Thread starter Evelyn
- Start date
Hi Evelyn,
Who the mortgagee is has no bearing on who the actual owners are. You may purchase a property in joint names and then only have one person take out a mortgage for the house. However, the bank may require your signature to show your authorisation (as joint owner) to have the property as security for the mortgage.
Who the mortgagee is has no bearing on who the actual owners are. You may purchase a property in joint names and then only have one person take out a mortgage for the house. However, the bank may require your signature to show your authorisation (as joint owner) to have the property as security for the mortgage.
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