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Thomas, Lawyer
Category: UK Property Law
Satisfied Customers: 7617
Experience:  BA (Hons), PgDip, Practising Solicitor
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My husband and I own a house with a large mortgage. He wouldnt

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My husband and I own a house with a large mortgage. He wouldn't be able to get a mortgage in his own name, so we can't just change through the mortgage company. Basically I would still be on the deeds as a part owner, until the house came to be sold when I would take no money from the sale and would like something legally drafted to reflect this.
Is this even possible?

Thanks for your question .

It’s possible. You may make a declaration of trust, which is a deed sworn by you both in which you specify how the proceeds of sale of the property (ie. when it is eventually sold) are to be divided. This would state that although you are a legal owner of the property you have no interest in the equity of the property (and, by extension, the proceeds of sale) and that your husband retains 100% interest in the equity in the property and is therefore entitled to the whole of the proceeds of sale.

This would not affect your liability for the mortgage, even if your husband agrees privately with you to pay for it. You would remain jointly and severally liable for the mortgage until such time as you remortgage or repay and your names is taken off of it. So, if your husband defaults in paying the mortgage the lender would still be able to sue you for the amounts outstanding.

A declaration of trust would cost around £100+ Vat for a local solicitor to draft for you

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Kind regards,


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