Getting a mortgage and then changing a name on it..?

I really want to get a house as early next year as possible when the prices are still affordable. My partner in this venture isn't working at present but may be getting something next summer or so. (I could make the payments alone but not get a mortgage by myself what with the banks being a bit cautious now..)
My uncle has offered to go in with me to get a mortgage. But would it be possible to change the name on the mortgage in a year or so and put my partner on it (when he has a job) and take my uncle's name off it? Is this a common thing to do? How would it work? It it usually simple to do?

Thanks for any input.

Kara said:

... But would it be possible to change the name on the mortgage in a year or so and put my partner on it (when he has a job) and take my uncle's name off it? ...

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No - this has been discussed several times on the site.

Okay. Thanks for your help.

I had done a search and couldn't find any posts about this in the last few pages so if anyone has any links it'd be appreciated, thank you!

Kara said:

I really want to get a house as early next year as possible when the prices are still affordable.

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They will be even more affordable the year after, and the year after that....

My partner in this venture isn't working at present but may be getting something next summer or so.

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Well as long as your partner is not expecting something to turn up in the Civil Service, the Public Sector or the Private Sector or is not studying for the priesthood then they should be just fine....

(I could make the payments alone but not get a mortgage by myself what with the banks being a bit cautious now..)

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The Banks are cautious for a reason - they know it's going to get far far worse.

Sorry to sound so gloomy - but I have seen too many optimistic young couples saddled with a lifetime of crippling debt. And the relationship does not always/often survive such a negative beginning.

I don't view prices as affordable at the moment. I am hoping they may become more affordable next year.
If the banks won't lend you and your partner the money now, it's for a reason. You can't afford it at the present time. Can't understand your rush.
If your partner has a job even next summer he won't qualify to get a mortgage until he has finished his period of probation (usually 6 months).
It's not just changing a name on a mortgage - the bank would review your whole financial situation. You'd have to re-mortgage (apply again) with the new person.

Please don't lumber your uncle with a 25yr or more debt. What if your partner is not your partner in 2 years time?

True love waits to buy a house, that's my motto.

Thanks for the input guys! Although it's a family member I want to eventually get the mortgage with so the theory of us not being together is not an issue luckily. The reason I'm rushing into it is because he's getting on a bit and I worry the banks may not be too sympathetic with giving us a mortgage in a few more years..
I see everyone's point.. I suppose I'll have to think it through; at the moment I'm the only earner and paying €1300 rent as well as all the bills with a bit to spare left, I guess it's just frustrating because I feel like telling the bank "I CAN AFFORD THIS, AARGH!" Sure I'll sit it out for now and see what happens..

hi kara.
ya no what it makes me laugh when people come on this site to give advice when nobody nos your situation. id just like to say to you that im in a similar sutuation.
Were trying to buy a house too but my partner is working but not permanent which means he wouldnt even be considered.
Im going for the mortgage on my own and im being told so far we should be ok.
Ill get a definate answer on tues. Were going to do this with both our savings put together but the mortgage will be in my name for now and eventually well look at getting both our names on it. Weve just got a solicitors letter to state everything is 50-50. look best of luck with your situation. i understand if you want to buy a house together. why wouldnt you. its not that your in a "hurry" its just you feel its the right time for you guys.... ill keep you posted on our situation.

Kara, I don't know much about mortgages and I certainly have no idea about changing names on them but reading your post I felt compelled to respond. You mention wanting to buy while prices "are still affordable".

If you are operating under this thinking then your main motivation is flawed, there is nothing and I really do mean nothing to halt the slide in house prices we are currently experiencing in this country. The wealth destruction, job losses and shattering of consumer confidence that took place during 2008/9 is going to accelerate in 2010 meaning it will be 2011 at the earliest that anything approaching a bottom will occur in this country.

Even just tomorrow we are going to witness the harshest slash and burn budget in this countries history. We have daily job losses, emigration, increasing number of defaulters, jingle mail, paycuts, negative growth, and the giant elephant in the room - approx 350,000 empty houses country wide !!! - who on earth do you think is going to be leading the charge to compete with you on the houses you may buy and drive prices up on you? Re negotiate your rent or move to something more reasonable, save what you can, get together a nice deposit and watch house prices drop. Then in 2011/12/13/14 buy a home that you can see yourself living in long term with a mortgage that you can comfortably afford, maybe by then the person who "maybe has a job next year" will be in a position to help out too

I just went sale agreed on a house at a price that's 35% below peak, every night I pray to baby This post will be deleted if not edited immediately that contracts will be signed and I can get out, my advice, be very very very sure if you are trying to buy in.