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WA Two Names on Title but One Name on Mortgage - Possible?

Discussion in 'Property Law Forum' started by Evelyn, 17 August 2014.

  1. Evelyn

    Evelyn Member

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    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?
     
  2. Sarah J

    Sarah J Well-Known Member

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    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.
     
  3. Sarah J

    Sarah J Well-Known Member

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    * Who the mortgagor is...
     
  4. Evelyn

    Evelyn Member

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    Hi Sarah,
    Thank you very much for reading my question and for this information. :)
     

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