How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Clare Your Own Question
Clare, Solicitor
Category: Law
Satisfied Customers: 34889
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
Type Your Law Question Here...
Clare is online now

my wife and I are both named on the property deeds. My wife

This answer was rated:

my wife and I are both named on the property deeds.
My wife has arranged a mortgage in her name only.
Lloyds Bank state that the deed must be in the same name as the mortgage.
I'm happy with this, but how can I keep my rights to half the value of the property?
Thank you for your question.
My name is XXXXX XXXXX I will do my best to help you but I need some further information first.
Is there any reason why you cannot be on the mortgage as well?
Customer: replied 4 years ago.

Hello Clare


Because of my age (58) and job the bank would only offer me a 7 year mortgage. My wife has obtained a 14 year mortgage for the £50000 to be borrowed.

The house is worth 550,000


If you do wish to go ahead with this you will need to protect your interest in the property with a Declaration Of Trust stating that your wife holds the property on Behalf of you both
This can be registered at the land registry.
Your rights in the property will not change
I hope that this is of assistance - please ask if you need further details
Clare and other Law Specialists are ready to help you
Customer: replied 4 years ago.

Thank you for the information

Do I need a solicitor to submit a declaration of trust to the land registry?

No - but it is sensible to get one drawn up by a solicitor and not just downloaded from the web - this is about protecting a substantial asset
Customer: replied 4 years ago.

Thank you for your help

You are most welcome - good luck