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Aston Lawyer
Aston Lawyer, Solicitor
Category: Property Law
Satisfied Customers: 10635
Experience:  LLB(HONS) 23 years of experience in dealing with Conveyancing and Property Law
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Is it possible for only one person to get a mortgage for a

Resolved Question:

Is it possible for only one person to get a mortgage for a joint ownership?

DETAILS

Looking to buy a property under Right To Buy scheme from Housing Association. Mom is
the main tenant - retired pensioner.

Landlord won't allow the property to be purchased in my name only, must be purchased jointly.

If we purchase jointly, does the mortgage have to be joint? Or can I get a mortgage alone but still purchase jointly?
Submitted: 3 years ago.
Category: Property Law
Expert:  Aston Lawyer replied 3 years ago.
Hello and thanks for using Just Answer.

I am Al and am happy to assist you with your enquiry.

Under the Right to Buy scheme, all Tenants must join in and purchase, so the H Assoc are correct.

Likewise, all Banks/B Societies will insist that both purchasers are on the Mortgage. The only exception to this is HSBC, who do sometimes allow a Mortgage to be taken out in the name of 1 party alone. I can't of course guarantee they would allow such an application in your case, but you can always ask!

I hope this assists and answers your question.

Kind Regards
AL
Aston Lawyer and other Property Law Specialists are ready to help you
Customer: replied 3 years ago.
Many thanks Al. I appreciate your concise reply, very helpful.
Expert:  Aston Lawyer replied 3 years ago.
Thanks Niraj!