Adding Partner t rented property mortgage

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    Adding Partner t rented property mortgage


    I am a new member and i am looking for some advice.

    I own a second property in my name which is rented out. My earnings have me in the higher tax bracket. My wife is in the lower tax bracket. Is it possible to add my wife to the mortgage and then have her pay some of the tax bill from the rental income ?

    Note - we own another property which we live in but i am the only name on the mortgage.


    Your lender will determine if you can add your wife to the mortgage, in theory that's not an issue.
    You will need to change the ownership to tenants in common at the same time and create a declaration of trust to document the actual split of beneficial ownership and use form 17 to notify HMRC.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).


      Precisely what you do for the best has to depend on all your circumstances and what you want to achieve. Take advice from a tax expert.



        Tha ma for the advice, appreciated.


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