Looking for advice on non joint mortgage.

mrsgrubtec

Hello all, I'm hoping some of the lovely people who helped me on my previous query will be able to give me some advice again.

Basically my husband and I have just sold our flat and are part way through buying a house. The flat and current mortgage are in my husbands name only as he bought the place before we met. I currently don't work and haven't done so since we started our family 2 years ago. I don't really have a credit history, just my bank account and I did have a mobile phone contract but I never renewed it as I didn't really use it.

We decided to apply for the new mortgage in my husbands name only as 1. I don't have an income and likely wont for a few more years and 2. We were pre warned as such that my lack of credit history may be a problem.

So hubby applied for a 90% mortgage (not sure if its ok to name the company on the forum?) and it was pre approved they just had to call him to set it up, all was ok until the last question which was will there be anyone over 18 living with you to which hubby replied yes and gave my details and at that point he was declined, apparently I didn't pass the check.

We need a 90% mortgage as we have bought a property that needs a lot of work so need to keep back a good bit of the equity from our flat to pay for it.

Anyway, my question is will this be the same for every mortgage provider? I know the criteria for the mortgage was strict as it was a 90% mortgage but will we run into the same problem if we apply elsewhere? We have made an offer which has been accepted on the new house so need to get a mortgage arranged sooner rather than later. I would appreciate if anyone could offer any advice.

Many thanks.

Dave_Ham

Hi there,

I remember, documents lost by Estate Agent advisor

You are now likely to require a broker as you do not want to keep attacking your credit files without knowing.

From the minimum information provided previously, I think you may have options.

You need to obtain both your credit files for Experian, Equifax and Call Credit and get them to a credible broker.

You can feel a bit better if you applied to HSBC or Santander, although you can name on here...

mrsgrubtec

Thanks Dave Ham, I really appreciate your reply. I actually obtained my files from equifax and experian only 3-4 months ago they were both ok except for on one report (can't remember if it was experian or equifax) I had one default which was from November 2007 for £15 for virgin media. That was when I moved in with my husband so can only presume it was my final bill from my previous property as I never knew anything about it! If I am correct that should now have dropped off as 5 years have passed. My husband hasn't looked at his recently but we will try and get reports online tonight for him, I'm going to send away for the £2 statutory ones as to reactivate my membership costs £15 :mad: I will obtain call credit ones too as I wasn't aware of them before your reply.

Oh and the company that turned us down was Britannia.

Thanks again.

Dave_Ham

No worries...

Britannia are incredibly selective, but the default would have been the killer.

Get the £2 reports for sure and depending upon content across the reports, will depend upon results.

Good luck

mrsgrubtec

Thank you. Can I ask one last question, should we continue to apply in my husbands name only if that's possible or will most companies want my details anyway?

Thanks.

Dave_Ham

Totally depends upon the content of the credit files and the skill of the broker.

Ideally it would be in joint names for simplicity and consistency, although some lenders will only credit check and be worried about the named person on the mortgage. The other will need to sign a declaration, but not be credit checked..

mrsgrubtec

Brilliant thanks. I have found a broker in my town that my sister used some years back so I shall consult with him tomorrow.

Many thanks for taking the time to reply, it's much appreciated.

Dave_Ham

No worries - good luck

thegirlintheattic

Defaults are on file for 6 years.

mrsgrubtec

thegirlintheattic wrote: »

Defaults are on file for 6 years.

Thanks, that's probably what's done it then :mad:

Thrugelmir

mrsgrubtec wrote: »

all was ok until the last question which was will there be anyone over 18 living with you to which hubby replied yes and gave my details and at that point he was declined, apparently I didn't pass the check.

At 90% LTV. Dependents may well impact affordability, as set by the lender.