Name on mortgage

[willmy41]

My son's friend is breaking up with his partner. The friend is holding on to the house and keeping the mortgage. He needs to show extra earnings and wants my son to put his name down on the mortgage. It wont cost my son anything but will it affect his status as first time buyer in the future?

 

[mf1]

Is your son on the title?

If yes, then he is not a first time buyer in the future for stamp duty purposes.

mf

 

[dewdrop]

if your son agrees to put his name on the mortgage he is then fully liable for the sum borrowed