joint mortgage application with card debt.....

martymoose

Hello,
Im applying to take over my mortgage in my name alone after my partner moved out. I fell short of the lending criteria on my own, and was told this was most prob due to other financial commitments. I.e. a balnce on a credit card. Its on a 0% and Im dealing with slowly but surely.

The next step is making a join application with a parent which should sail through, its a joint application over the phone , as mine was when I was credit scored.

My question is how do I go about this without divulging my credit card situation to my parent? Yes this may sound a bot pathetic but Im quite proud and dont want to admit to having this. I have plenty disposable income to cover all my liabilities and my mortgage.

Has anyone done a joint application?....... Do both people need to be rpesent at the same time or do you give details of each party seperarely?

Thanks.

nervousftb_3

I am sorry to sound harsh, but surely if your parent is taking the huge risk of going on the mortgage with you (and by huge risk I don't mean that you personally are a risk I mean any mortgage in general is a financial burden) then don't you think that they deserve to know the full facts of the situation? It is a big commitment for them to undertake for you and personally I think it would be better if you are honest with them. Again, please don't feel I am trying to be harsh as I understand your reasons for not wanting them to find out, but perhaps it would be better all round if you were honest with them from the start.

martymoose

Anyone else who actually has any experience of joint application over th ephone please?

If I had wanted a lecture on morality I wou;ld have asked for one. She is at no risk whatsoever, I have a guaranteed job and I am more than able to meet the liabilities.

So without sounding harsh can anyone help me without lectueing me. Cheers.

Wutang_2

martymoose wrote: »

Anyone else who actually has any experience of joint application over th ephone please?

If I had wanted a lecture on morality I wou;ld have asked for one. She is at no risk whatsoever, I have a guaranteed job and I am more than able to meet the liabilities.

Tell her then!!

And "If I had wanted a lecture on morality" is only going to provoke one.

nervousftb_3

martymoose wrote: »

Anyone else who actually has any experience of joint application over th ephone please?

If I had wanted a lecture on morality I wou;ld have asked for one. She is at no risk whatsoever, I have a guaranteed job and I am more than able to meet the liabilities.

So without sounding harsh can anyone help me without lectueing me. Cheers.

A mortgage is a risk no matter what the circumstances, who can say for certain what will happen in 5, 10, 15 years time... I don't feel that I was lecturing you, merely offering some polite advice. Of course you are welcome to completely ignore my advice, such is the beauty of an open internet forum :whistle:

Thrugelmir

martymoose wrote: »

Has anyone done a joint application?....... Do both people need to be rpesent at the same time or do you give details of each party seperarely?

Thanks.

A joint application is just that. How can another party sign a declaration when they don't know what the other party has declared. As both parties are jointly and severally liable for the mortgage.

martymoose

Ok, ok I hear what your all saying maybe I will just level with her then. Whilst I was looking for someone who actually knew the process involved and not a lecture I do get what your all saying.

I am guessing it is a case of a conversation with one parrty , then the other then a credit vetting process. I.e. treated like a new application rather than just changing names over. Thanks.

VIGILANT22

Don't be so naive.....joint applications are treated as such...the information is shared with both parties............

JA1000

Running scared of parents incase they find out yet quite happy for them to help you out are they paying towards it as well or are you covering it yourself.

On the form there will be a part for current outstanding credit

This will the form you both have to sign, try covering it in post it notes!!!!

martymoose

Wow......... did you miss the post where I said I see what your all saying? I have said your right i should be honest. Yet still people see it as an opportunity to take the moral high ground instead of answering what has been asked.

Honestly forget it. I only wanted to know how a jooin app worked over the phone as when my and the ex did one it was on paer. Was hoping someone had some experience with it. Que the self righteous moralisitc mob

VIGILANT22

Quote: and dont want to admit to having this

Que the liars..........