Joint property and other purchases

[delsgirl]

Can anyone tell me if i have a joint mortgage with my partner, can i purchase another property in my own right without him knowing? i am considering another property to let for my old age, but dont want him to know.

[law advice]

yes you can purchase another property, but how will you be financing it. If it is with cash then no problem. If you need to raise a mortgage then it may be harder, depending on the financial arrangements with your present house and the finance required for the new house. Do you have the use of an independent address that any mail can be sent to.

[mamar]

yes you can because if the property you are buying is to be a rental then you would have a buy to let mortage which generates its own income as long as you credit check ok then income and other properties dont come into it, the only way your other half needs to be involved is if you need to remorgage the present property for the deposit on the new one

[springbulb81]

actually other properties and income do come into it as you are not certain you will always have a tennant living in your second property. Therefore in those weeks or months when you might not have a tennant you are responsible for paying the mortgage.

but if you financing it from your own pocket without securing anything on your current property your partner does not need to find out. (until maybe you get divorced and he will be entitled to half of anything you own)

[delsgirl]

great answers thankyou. You have given me hope. I am not married to my partner, and i guess that if i remortgage then he will be informed of my intentions, but if i get a buy to let mortgage and have a dissassociation on my credit report then i may have a way of buying another property, am I right in my thinking?

[delsgirl]

Yes i do have an independant address to use, i could use my parents