quick question

emmah89

hi

my husband and i want to purchase a house. my credit is extremely poor, and so my husband is going to put the mortgage in his own name. we have no linked accounts etc. just wondering- we get joint working tax credit and child tax credit, the working tax paid to him, the child tax paid to me. can he use the working tax credit as part of his income for the mortgage even though its a joint claim?

Conrad

These 'quick questions' invaribaly do not have quick answeres!

For starters a lender can decline a case where it is established the partner will be residing but not going on mortgage due to thier credit history.

So step one, you need to think through whether he should just keep everything about him.

This is a complex case, so if I were you I'd get to an experienced broker. NOT a call centre organisation that run through questions from a script as these scripts are not designed for more complex cases and could jeapordise your chances.

The_J

This isn't that complex.

The answer is yes, if the lender accepts WTC they will accept it if it is paid to your husband.

Only a few lenders are worried about joint partner's having bad credit, but that's why you would speak to a broker.

kingstreet

A more important question may be, where's the deposit coming from?

Abbey/Santander for example will decline an application where the deposit is coming from someone who will live in the property but who is not an applicant for the mortgage.

emmah89

Thanks everyone. The deposit is coming from a savings account (husbands name), that we have been saving for a while?

The_J

I assumed that was the case, it's only Santander who have that problem. Speak to a broker, one of the call centre ones to annoy Conrad.