Hi Clare, yes it does. The rental income is £1200 per month. The current mortgage payments are very low on a tracker at £150 - this mortgage deal end in June, hence the need to re-mortgage. The joint owner mortgage we are looking at would be about £340 per month. If I remain sole owner the BTL mortgage will be about £460 per month.
No pressure, just want to check you received my reply to your question?
No. Not in any real sense that is to say. If we choose the mortgage deal with a better interest rate, we will need to show higher earnings to the building society, include his salary and include him on the deeds. But I can also choose a more expensive buy to let mortgage on my own, as a sole owner. Obviously the less expensive route including him on the deeds makes financial sense. I would like to know the implications of marriage and god forbid, divorce if he is on the deeds. I don't anticipate him ever having to finance the property by paying the mortgage. I hope this makes sense!
Thanks for your reply. The end of this paragraph was missing from your message, can you please let me know the full sentence/s.
'However where the asset was owned prior to the marriage and has always been kept separate to the other assets then the Court may well chose to disregard it - PROVIDED there are ample other assets from which the Reasonable needs of each party.....'