Little help please

laurzie

My husband has applied for a mortgage singly, due to my being a little irresponsible with money a few years back so we decided he would apply for it himself. We have always had separate finances. We have nothing 'joint' and under his credit file, i'm not financially associated as I have checked.

He has a really great credit score. He has a decision in principle, however he also owns a flat which he lets out. The lender have asked to see a bank statement just to see the payment going in. The rent actually goes into my account, which isn't a problem to get a statment for however, will me being overdrawn affect anything? Like i say i'm not on the mortgage application itself at all, it's only to show that rental payment actually going in.

*I just wanted to add due to some nasty posts on other question sites that I was irresponsible i.e. had to many credit cards etc. I am overdrawn sometimes but it is an arranged over draft and I don't miss any bill payments.

steve1980

Hope you're declaring the payments to HMRC/Benefit department etc.

As the money goes into YOUR account he can't use it top up his earnings.

Credit score means nothing. Neither does an AIP.

laurzie

Yes, he is self employed so it is all declared in his tax return, as it is his property, the reason the money goes into my account is that sometimes when he is offshore, he is in 'sat' a type of diving which means he can't contact the bank to transfer me any money, so the rental payment from his flat goes to me for a back up as i'm not employed at the moment as look after the kids.

He isn't using the rent to top up his income, he is buying another property and because property 1 is let, the bank just needs to clairfy that there is tenants i.e see the lease, and confirm by way of bank statement that a rent is being received.

*Robin*

laurzie wrote: »

Yes, he is self employed so it is all declared in his tax return, as it is his property, the reason the money goes into my account is that sometimes when he is offshore, he is in 'sat' a type of diving which means he can't contact the bank to transfer me any money, so the rental payment from his flat goes to me for a back up as i'm not employed at the moment as look after the kids.

He isn't using the rent to top up his income, he is buying another property and because property 1 is let, the bank just needs to clairfy that there is tenants i.e see the lease, and confirm by way of bank statement that a rent is being received.

I don't quite understand OP; you say you are not financially linked with your H, yet the rental payments for his house go into your bank account.
That must be a nightmare when he's doing his annual tax return! Surely the rent money should be going into his account, then he can set up a standing order into your account to make regular contributions towards your joint household expenses, no matter whether he is diving when the payment is due.

ETA: Doubt the mortgage company will accept your bank statements as proof of his income so hope you've got time to change the arrangement to something like I've suggested above.