Can we still get a mortgage /

lisan26

Hi there !!
I am currently living with my boyfriend in the house which he owns. We are looking to buy a house together, but I am worried that we won't get a mortgage together due to my adverse credit history.
Will we be turned down due to my adverse credit history even though he has had a mortgage for years and has never missed a payment on any of his credit

AndrewSmith

lisan26 wrote:

Hi there !!
I am currently living with my boyfriend in the house which he owns. We are looking to buy a house together, but I am worried that we won't get a mortgage together due to my adverse credit history.
Will we be turned down due to my adverse credit history even though he has had a mortgage for years and has never missed a payment on any of his credit

Hi there

You wont necessarily get turned down, however your adverse credit history will be taken into account if:

a) You are to be on the mortgage with your partner
b) You plan to live in the new place together.

Even if you decide not to go on the mortgage there will still be a 'financial association' between you as partners, thus your credit history may still play a part in the decision of the lender.

It does, however, depend on the extent of your adverse credit history, how long ago it was, how much it was, whether it is cleared, what it was for etc.

Also on how much mortgage you are looking for and how big a deposit you have, along with your employment status/history.

The full ramifications are far beyond the scope of this forum as there are so many things that could come into play, with different lenders having different criteria etc.

The simple answer to your question though is 'yes' there is a possibility that your adverse credit history will be instrumental in the decision of a lender.

Hope this helps

Andy

lenderbender

I work for a lender and the vast majority of lenders would ignore your adverse history. A lender always needs to assess or mitigate risk and a co-habiting partner with an adverse credit history does not present much of a problem.

herbiesjp

Depending on what the adverse credit is, the OP may well be able to get high street rates any way - difficult to say without knowing more