Republic of Ireland Law
Republic of Ireland Law Questions Answered by Experts
1. A bank will be quite happy to lend you money by way of a mortgage so you can purchase an investment property. However, the bank will want the property as security for the mortgage. So, it is most likely that the bank will want both yourself and your son named on the mortgage, if only to ensure that if anything happens to you and your income is no longer available to pay the mortgage, that the bank can then seek repayment by means of the property or by means of any rent which would be coming due to your son, if the property is rented out.
2. However, it is perfectly possible to own the investment property in your son's sole name and to avoid any situation that if you divorce, that your husband might make a claim against the property. However, to ensure that this is the case, it is imperative that you don't get encouraged to put your name on the property as well as your son's name. Many banks will suggest this approach, but you should resist it.
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