Can I add my husband's name to a property in my name?

R

R3alEstate

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Hi,

if I take a mortgage on my own, is it possible to add my husband after some time and have the family house also under his name?

If yes, is it difficult to do?

Thanks,

Katrina
 
Are you already married?
It's probably impossible to get a mortgage in sole name if already married.

If not, it's very common to add other party after marriage, and straight forward.
 
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Hi Real Estate

What country are you in?

This is an Irish website and the practice may be different if you live in a different country.

Brendan
 
Hi,

I'm in Ireland and I'm already married. It's easier at the moment to get the mortgage in my sole name and the Bank already agreed to that. I was wondering if after my husband credit score improves it's possible to add also him.

Thanks,

Katrina
 
Is it possible to change the ownership and add also my husband without changing the mortgage? That could be another option
 
If you are married, then this is/will be the family home and the Family Home Act will apply. So for all intents and purposes your husband will be a joint owner, you don't need to take any other action.
 
It is better to have family home in both names as if the registered owned died then the estate would have to go through probate. The government encourage joint ownership and they don't charge stamp duty or registery fees but the solicitor will charge a fee .
 
so the situation is that I'll get the mortgage and my husband will have to sign a document to say that he's ok to lose the family home if I don't pay for example. What we'd like is to be both owners even if I'm the only one taking out the mortgage but I will have initially to be the only owner so my question is if there is a way to include my husband as owner after
 
Talk to your solicitor.
I think he can't be added as an owner if the bank have a document saying he has no rights to the house.

Edit: I might have posted a bit hastily. Is the document that husband signs a declaration that it is not a family home?
 
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no a declaration that he can't oppose to lose the house in case I don't keep up with payments.

Honestly it's not a big deal for him, it's just that should the worst happen to me I don't want him to lose the house.

Would the life insurance pay and the house remain to him?

I know sad thoughts but we need to be realistic
 
no as family home. Everybody seems surprised, it's totally possible, the husband/wife has to sign a document that says that they are aware and agree to lose the family home in case the one taking the mortgage doesn't pay
 
It is unusual that a bank will go ahead with one, most have a policy of insisting both are on mortgage when married but ask your solicitor about the legal side. I can't see why the house wouldn't be his if anything happened to you unless you had made a will specifying otherwise and even then he would have an entitlement to the bulk of it.

It shouldn't be a huge issue in the future to add him to mortgage and deeds if that is what you want.
 
Its dead simple.

The Bank will/may lend to one or both - though I am surprised at the idea that the bank would lend to one spouse only on a family home.

The big issue is that the bank won't agree to a subsequent Transfer into Joint names ( and can we stop calling it - adding his name- its not adding his name - its transferring the property into both names) unless he is also on the mortgage.

I've never seen a Deed of Confirmation being allowed -the husband/wife has to sign a document that says that they are aware and agree to lose the family home in case the one taking the mortgage doesn't pay- where the property is a family home and owned by one only spouse.

A Life Policy may pay out on death but that's no good when both are still alive, the mortgage is in arrears, the bank want to repossess and the non owning spouse suddenly wants to hold on to the Family Home.

Its a matter for the OP's solicitor to work through the nitty gritty of a Letter of Loan Offer.

mf
 
I don't know what to say mf1, apparently they are happy with it. They suggested me to take the loan on my own because my husband credit score is not great at the moment and that could be a problem. The house is the family house because it'd be the only one we have and we'll leave there.

Assuming the mortgage is not in arrears and the worst happens to me, would you see problems there? I thought that the Life Policy would pay out and my husband would inherit the house, am I wrong?

Apologies for keep asking here but the solicitor is taking ages to come back to me and now he also decided to take a vacation, not a shocker considering how much they earn!

Thanks everyone for taking the time to reply.

Katrina
 
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"now he also decided to take a vacation, not a shocker considering how much they earn!"

Be a bit careful with the snippy comments when you're getting free advice here from solicitors!

mf
 
you are right, it's that it's a long process and I'm a bit frustrated at the moment. Apologies
 
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