One name on deed, two on mortgage?

T

techman

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Is it still possible to have two names on a mortgage but only one on the Deed?

Did Revenue clamp down on this recently?

Only one will live in the house.
 
Yes, it's called joint mortgage, sole title.

Didn't hear anything that revenue have an issue with it?
 
Revenue had an issue in relation to the whole first time buyer scenario. They did clear it up though last year and so long as the second person on the mortgage (effectively the gaurantor) takes no beneficial interest in the proeprty then there is no problem.
 
may be I need to make it more clear .. sister (FTB) wants to get into property ladder , she will be in employment hopefully in 6-10 months time after finishing her studies . Thinking this is the best time for her to buy , i want to help her with mortgage now by puting her name on the deed till she gets to support the mortgage on her own , hopefully next summer .

So , from legal point of view , is it possible to put her name only on the deeds and I start the mortgage now till she gets the chance to take the mortgage over , then transfer mortgage with the Bank to be hers ?

appreciate your feedbacks

h.
 
I can't help you with recent Revenue developments but this was possible when we bought our house in 2001. My wife had owned a previous property but I had not so we bought the new house in my name only to avail of the lower first time buyer rate of stamp duty. AIB had no problem with a joint mortgage despite only one of our names going on the deeds.
 
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