Adding name to a mortgage .

[pablo123]

Hi, Our mortgage is on my wife,s name only , We met just after she purchased our home on her own over 20 years ago , My wife paid the mortgage and I looked after everything else , It was easier at the time , Now my wife want,s to put my name on the mortgage for the remainder of its lifetime as we are making a will , We are both in our mid 50,s , Are there any added costs such as added insurance etc , Thanks for any help .

 

[Brendan Burgess]

You might want to get your name on the title deeds of the property. It makes no difference if you are on the mortgage or not.

There probably isn't any need for it as the spouse's rights are protected in the event of anything happening your wife.

Brendan

 

[Ravima]

Banks are much happier to ADD a person to the mortgage/deeds, rather than to DELETE a person!

 

[8till8]

I was in a similar situation and the bank wanted us to complete an application for both of us i.e. assets, earnings etc Because I am self employed it would be a big hassle so we didn't do it.

 

[presidenttttt]

Has anyone done this recently?

What is involved?

@8till8 does it make any sense to have to apply again? Doesnt a spouse have rights to the house anyway, so bank gain nothing by forcing a reapplication?