Can i be named on two mortgages

We want to do some improvements to the house ASAP but I don't want to till my ex name is off the house. My girlfriends dad is prepared to be a guarantor for her. Can this be done with her name already on another house? As part of adding your girlfriend to the mortgage, the lender will ask if she is named on any existing mortgages and this will need to be declared.

A mortgage is a joint and several individual contract so your girlfriend is liable for the whole of the existing mortgage debt until she is released from her covenants and for her to be also named on your mortgage she would have to earn enough to cover the whole of both debts. If you are joint tenants, you need the agreement of everyone on the mortgage before you can sell the property.

Alternatively, you could change your mortgage arrangement so you are tenants in common, as explained in this Citizens Advice guide to ending a joint mortgage. One homeowner could then sell their share in the property to the other. If you're a first time buyer or looking to move house or remortgage, we can help you find the best mortgage deal to suit your needs. Bad credit mortgages. Cashback mortgages. Discount mortgages. Flexible mortgages. Guarantor mortgages.

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How do joint mortgages work? If you have an assumable loan , this process can be a little bit easier. Another option is to refinance the mortgage without the co-borrower. How We Make Money.

Written by TJ Porter. Written by. TJ Porter. TJ Porter is a contributing writer for Bankrate. TJ writes about a range of subjects, from budgeting tips to bank account reviews. Edited By Suzanne De Vita. Edited by. Suzanne De Vita. Suzanne De Vita is the mortgage editor for Bankrate, focusing on mortgage and real estate topics for homebuyers, homeowners, investors and renters.

Reviewed By John Stearns. Reviewed by. John Stearns. Share this page. Bankrate Logo Why you can trust Bankrate. Lenders will do affordability and credit checks on the new person because they will be jointly responsible for the mortgage with you. If the person that you want to add to the mortgage has a poor credit rating, it could affect how much the lender allows them to borrow. Just like when you take out a mortgage in the first place, lenders will assess the credit issues in terms of how serious they think they are, and how recent they were.

If your current lender has strict rules, you might want to consider a specialist lender and remortgage. But you can use other ways to show evidence of your earnings, such as perhaps company dividends or accounts.

They can advise you on what your options are and will have access to specialist lenders. Less processing, more understanding. Applying for a mortgage or understanding your options shouldn't be confusing, yet there are just so many myths doing the rounds and it's not easy to know where to turn to get the right advice.

Our calculators give you an idea of what you might be able to borrow, what's affordable and a rough estimate of the kind of property prices you can start to look at. By continuing to use this website, you consent to our cookies and privacy policies. Can a joint mortgage be transferred to one person?