What are the chances? (wife with bad debt)

kingstreet

If you want a good high street rate, you are going to have to buy and apply for the mortgage alone.

Chances are, any joint solution is likely to be at a higher rate and be more hassle.

A sole purchase and application will be cheaper and easier. Look to add her in a few years time when the adverse has fallen off her credit files. A transfer of equity to do this costs £400 to £600, so you might want to leave it until you decide to move your mortgage to a new lender, or move house altogether.

As she will live in the property, she will need to sign a "consent to mortgage" form, but she will not be party to the mortgage, so she won't be credit checked.

smithandjones1982

kingstreet wrote: »

If you want a good high street rate, you are going to have to buy and apply for the mortgage alone.

Chances are, any joint solution is likely to be at a higher rate and be more hassle.

A sole purchase and application will be cheaper and easier. Look to add her in a few years time when the adverse has fallen off her credit files. A transfer of equity to do this costs £400 to £600, so you might want to leave it until you decide to move your mortgage to a new lender, or move house altogether.

As she will live in the property, she will need to sign a "consent to mortgage" form, but she will not be party to the mortgage, so she won't be credit checked.

That is great news and pretty much how we had planned to arrange it all re adding her to any papers at a later date.
Am I likely to deal with raised eyebrows and inquisitive questions from lenders about my marital status and lack of partner in the application?

I'd like to say thank you all for your replies and for all the replies you leave on this forum. I have been reading for quite some time and your advice in invaluable to someone who has no idea about any of this stuff.

kingstreet

I don't doubt some lenders will have an issue with it.

I'd find a good whole market broker near you (ask friends and relatives for a recommendation) and they should be able to steer you away from the usual suspects.

smithandjones1982

kingstreet wrote: »

I don't doubt some lenders will have an issue with it.

I'd find a good whole market broker near you (ask friends and relatives for a recommendation) and they should be able to steer you away from the usual suspects.

Thank you, that is really useful.
Is it likely to be the bigger/high street lenders who have the issue?