Australia's #1 for Law

Join 11,000+ Australians. Ask a question, respond to a question and better understand the law today!

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

    Joined:
    17 August 2014
    Messages:
    2
    Likes Received:
    0
    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

    Joined:
    16 July 2014
    Messages:
    1,314
    Likes Received:
    247
    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.
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
  3. Sarah J

    Sarah J Well-Known Member

    Joined:
    16 July 2014
    Messages:
    1,314
    Likes Received:
    247
    * Who the mortgagor is...
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
  4. Evelyn

    Evelyn Member

    Joined:
    17 August 2014
    Messages:
    2
    Likes Received:
    0
    Hi Sarah,
    Thank you very much for reading my question and for this information. :)
     

Share This Page

Loading...