Possibly joining Mortgage

Blakey1982

Hello
just a quick question - my partner currently has a mortgage and would like me to join it.....my question is

I had a default 3 years ago for about £3k which was in fact settled the very same month......how would that affect the mortgage if i joined it?

Go up, down, would they even allow it etc??

Thank you
Paul

Dan_1976

It will be a transfer of owner ship. They will either say yes or no. I doubt they would change products.

If the property is of high value you will need to check your not liable for stamp duty.

Blakey1982

Cheers Dan thanks for the reply

VIGILANT22

Financial Association

An association is created by joint financial accounts eg mortgages ....when someone with an impaired rating joins someone with a good rating this may affect the "good one" when applying for future credit.....

Blakey1982

Great advice thanks Vigilant

I've been told something similar but it also takes into account the amount the default was for, when it was, and when it was settled.

Based on the a financial advisor said it would affect the interest rate but not by a great deal

VIGILANT22

But it will also affect your credit profile!