Dependant affecting mortgage

horngkai

Hi there, I currently have a boy and is expecting another in June. I am thinking of moving house and we will be getting the mortgage by my salary alone. My wife does not earn a lot and hence a joint mortgage (according to mortgage calculator) means we actually can borrow less. Her salary will be more than enough to cover for herself and the 2 babies. Would I be possible, in that case, apply for a mortgage by my own salary but not declare any of my children as a dependant of mine? Seeing that their living expenses will be paid for by my wife who are not included in the mortgage? Please advise. Thank you.

_Andy_

No, that would be fraudulent

Matt.lund

I am new to all this but how is this fraud? if the mortgage is in his name with him paying it and all the bills, and his wife supports her and the children's living cost how are they his dependants when they don't depend on him?

ACG

But she wont be.

If she were then it would be fine. But shes not - so its a lie which makes it a fraudulant application.

horngkai

My wife will be able to support herself and the children. But how do I prove that to the lender?

hcb42

Just tell the truth on the app!

horngkai

Another question, as my 2nd baby is due in June, if I apply for a mortgage before that, will that be one or two dependant?

hcb42

1............

DVardysShadow

horngkai wrote: »

Another question, as my 2nd baby is due in June, if I apply for a mortgage before that, will that be one or two dependant?

4, assuming you have triplets? It has to be 1 now, because you do not know what the future holds

_Andy_

Another fraud is cool thread. Whoop whoop

Damn those nasty mortgage companies making you state the truth!!

bclark

I have to say though that I do find the lowering of what they will lend you due to dependants a bit arbitrary. We have recently had our first child and due to this Nationwides calculator says they will lend us 25% less than if we had no child.

My wife now works part time and this calculator is based on her lower salary already. We don't have any additional child care costs or anything and she really doesn't cost us a lot extra, in fact we now don't sound the £5k or so on holidays we used to, almost never go out and have got rid of one of our cars.

I understand that the mortgage companies need to generalise a bit but it's frustrating that they just arbitrarily say that we can't afford as much because we have a child.