Mortgage Re-application - FTB Advice Needed

stripeytrousers

Me and my partner recently applied for a mortgage in principle and got rejected (by 3 lenders) due to my partners 'adverse credit' (a default payment which has now been settled).

So im now going to apply for a mortgage on my own and put down a higher deposit and my OH will pay half of the costs etc.

Would I be better off not applying with the companies that we got rejected from? Or will it be treated as a completely different application?

Many thanks for any advice :-)

Meeper

I would avoid the companies that you have already applied for, however whoever you apply with you will need to declare that your partner will be living in the property and they may do background checks there also, so you may be in difficulties either way.

stripeytrousers

Hi Meeper,

Thanks for getting back to me.

i'd never thought about that - why would it make a difference who i would be living with? As surely people who already have mortgages on their own, can decide if someone moves in with them at a later time and I presume they don't have to notify the mortgage company?

Thanks for bringing this to my attention though ...

GMS

Your partner will need to sign an Occupiers Consent Form basically waiving her rightd to reside should the lender take possession.

Also be aware that is your partner is providing any of the deposit but not being party to the mortgage than this can cause issues for lenders too.

stripeytrousers

I will be paying the entire deposit and he will be giving me half of the money for the mortgage each month and monthly bills etc, we will then be looking to add him to the mortgage when i re-mortgage in 2 / 3 years time - when his credit report/score will have improved.