Joint credit score/remortgage

Jenbear

Hi

I have a joint mortgage with my husband, been in our house for 15 years and are applying for a remortgage with a different lender just to get a better deal.

My husband is the mains source of income with a good salary and plenty of savings and investments and good repayment history.

I have a low salary and don't contribute much to the family finances. My main worry is that I owe £4000 on a credit card. I make regular monthly payments to lower it. Just wondered if my poor credit value will affect our joint remortgage application?

izools

The lender will assess your affordability based on your income and your credit card balance will play a factor, yes.

However most lenders websites have an affordability calculator that estimates how much they'd be comfortable lending, you just pop in details of you and your partner's income and debts; so you can see who would be most suitable before clicking "Apply"

jonesMUFCforever

The way I see it is this - if they agree to lend you say £100k in principle they might trim the offer to £96k to take into account the credit card debt.

CLAPTON

Ok I don't know the background or the full facts but it does seem a strange marriage

izools

CLAPTON wrote: »

Ok I don't know the background or the full facts but it does seem a strange marriage

Doesn't seem odd to me, your good old breadwinner and homemaker combination