Advice please

SusanC10

Our situation is that my Husband and I own our home with a Mortgage. House and Mortgage both in Joint Names. I also own (inheritance) a small Cottage on a large Site beside my Mother's house. This is in my sole name with no mortgage. It is not rented out.

Our medium term plan would be to sell where we are living at the moment and put the Equity in our home towards renovating the Cottage with a view to moving there permanently. The Cottage is habitable but needs considerable upgrading and extending to accommodate our needs.

My Husband is the sole earner and we have 2 kids. He has recently been told that his employer would be in a position to facilitate remote working in the medium future. We could live in my mother's place during any renovation.

Our plan would be to sell our existing home, put the Cottage into Joint Names and take out a small Mortgage (less than €100k) to put with our Savings and any Equity from the sale and renovate. However, a friend of ours has told us that as I am a stay-at-home Mum that we cannot do this as my Husband could only apply for a Mortgage in his sole name and any property then could only be in his sole name. We want the property (and Mortgage) to be in Joint Names.

Is it possible to have the property and mortgage in Joint Names with only one earner ?

Thanks in advance.

MarkAnthony

Yes.

wench

Your friend is wrong, the bank will have no problem putting you both on the mortgage.
As it will be your family home, I think they would actually insist on it.

Mrs OBumble

Sometimes you're better off talking to lawyers rather than friends.

Pawwed Rig

Your friend has no idea what they are talking about