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Due To My Bad Credit We Only Want My wife to apply for mortgage - How Would this work
tda1301
Posts: 8 Forumite
Afternoon all, as the title suggests - i have a poor credit score and defaults on my account, i have have a mortgage in my name and exs name ( who has nothing to do with it anymore as i have paid mortgage for last 4 years)
we do want to get another house and sell mine but my score is awful.
my wifes score is fair, she has no debt and earns a salary of 35k a year, we have a deposit of £30000 and the house is £140000,
how would it work if she wanted to apply on her own?
many thanks
we do want to get another house and sell mine but my score is awful.
my wifes score is fair, she has no debt and earns a salary of 35k a year, we have a deposit of £30000 and the house is £140000,
how would it work if she wanted to apply on her own?
many thanks
0
Comments
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She could go and have a chat with whoever she wants to get a mortgage with, depends on outgoings etc as well as just salary.0
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If you have any financial association with your wife (joint accounts etc) she may be affected by your poor credit record.0
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the only thing we have is a joint account which is no longer in use as we have our own accounts now0
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the only thing we have is a joint account which is no longer in use as we have our own accounts now
... and a mortgage?
... and house?
I'd sell up, complete the disassociation and then apply for a mortgage.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
If the house if your wife's name only and she is not party to any debts or liabilities whatsoever then she should be able to.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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