Adding boyfriend to mortgage

SullyM

Hi,

Hope someone can offer some advice for me. :huh:

I currently have a mortgage outstanding of 110k, my boyfriend is going to give me 50k to pay off of the mortgage (matching my initial deposit) for a 50% share of the property. Leaving a mortgage of 60k, property value is around 180k

I have a mortgage with Abbey at present and would like to add my b.f. to it. I earn and can prove 21k per annum.

The question is my b.f.'s father provides him with 30k to live on each year, as such does not have payslips but can show a deposit into his account each month for the last 3 years.

Is there going to be an issue adding his name to the existing mortgage?

Any advice much appreciated.

_Andy_

For a mortgage of 60k, your income will be fine (I'm assuming your don't have huge debt outgoings), i.e. he can still go on to the mortgage but his income won't need to be taken into account. This will be subject to a satisfactory credit check and transfer of equity fees.

feisty1

Quote: Any advice much appreciated.

Since yr mortgage is with the abbey, this question should be put to them, here you will receive opinion and for u to move forward u need the correct facts and the abbey are the ones to provide u with them

SullyM

feisty1 wrote: »

Quote: Any advice much appreciated.

Since yr mortgage is with the abbey, this question should be put to them, here you will receive opinion and for u to move forward u need the correct facts and the abbey are the ones to provide u with them

You are right, I am looking for opinion.

What I am hoping is that by posting in this forum I am sure that there are mortgage advisors that are knowledgeable on the situation and I want to know the best way to play it without going in unprepared and digging a hole.

@ _Andy_ - Would this typically be the case? Providing I can still qualify for the lesser mortgage amount then the additional named person on the mortgage will not have to prove earnings?

Kavanne

Hi SullyM, both me and my bf are named on my mortgage, but it was deemed 'affordable' on my earnings so could just put '0' for my bf

feisty1

SullyM wrote: »

You are right, I am looking for opinion.

What I am hoping is that by posting in this forum I am sure that there are mortgage advisors that are knowledgeable on the situation and I want to know the best way to play it without going in unprepared and digging a hole.

@ _Andy_ - Would this typically be the case? Providing I can still qualify for the lesser mortgage amount then the additional named person on the mortgage will not have to prove earnings?

Quote: to play it without going in unprepared and digging a hole.

how about telling the truth, advisors cannot advise on here & should not be helping people twist the truth, remember it is abbey's money u have

_Andy_

SullyM wrote: »

You are right, I am looking for opinion.

What I am hoping is that by posting in this forum I am sure that there are mortgage advisors that are knowledgeable on the situation and I want to know the best way to play it without going in unprepared and digging a hole.

@ _Andy_ - Would this typically be the case? Providing I can still qualify for the lesser mortgage amount then the additional named person on the mortgage will not have to prove earnings?

Yes it would. With your income alone it's still quite a small income multiple.

SullyM

feisty1 wrote: »

Quote: to play it without going in unprepared and digging a hole.

how about telling the truth, advisors cannot advise on here & should not be helping people twist the truth, remember it is abbey's money u have

Who said anything about lying and not telling the truth, stop making assumptions.

In this specific case there is the option of having my b.f employed and placed on his fathers company payroll and the question is whether or not this should be done in advance (being prepared....) or if we do not do this and say he is unemployed to start with (digging the hole....) Comprende...?

<quote>it is abbey's money u have</quote> :T

Thank you for all the comments and experience others have had, that helps. :j

feisty1

[quote=SullyM;17971961]Who said anything about lying and not telling the truth, stop making assumptions.

In this specific case there is the option of having my b.f employed and placed on his fathers company payroll and the question is whether or not this should be done in advance (being prepared....) or if we do not do this and say he is unemployed to start with (digging the hole....) <quote>it is abbey's money u have</quote> :T Thank you for all the comments and experience others have had, that helps. :j[/quote]

I understand VERY WELL......Comprende...?

Translated it is called DECEPTION

SullyM

feisty1 wrote: »

I understand VERY WELL......Comprende...?

Translated it is called DECEPTION

Theres no deception, if he was required to be employed then he would be employed and would obviously have to provide proof of that which could be done. Why on earth would it be deception? doh.... :rotfl:

I came here to ask a question, not have my situation analysed by someone desperate to find untruths.. give it a break

feisty1

If you had nothing to worry about you would have foned Abbey direct, not hope to find an adviser who would suggest how u could "bend the rules"