mortgage application in one name.

deano3

Afternoon,
Going to be applying for a mortgage very soon in my name only. I will be speaking to a broker next week but would like to know the following.

Would credit card dept in spouse's name affect the amount i can borrow. Her name wont be on the application but of course the monthly payment will show on our joint bank account.

ValHaller

Why are you going for a single application?

The fact that you have a joint account means you are for credit purposes financially associated, so you either have to face up to her issues or disassociate.

deano3

ValHaller wrote: »

Why are you going for a single application?

The fact that you have a joint account means you are for credit purposes financially associated, so you either have to face up to her issues or disassociate.

It has to be a single application in my name.

I know the lender does allow single applications, are you saying because its a joint banking account the dept in her name will affect the application in ny name?

Trentenders

deano3 wrote: »

It has to be a single application in my name.

I know the lender does allow single applications, are you saying because its a joint banking account the dept in her name will affect the application in ny name?

Yes. You are financially linked.

deano3

Trentenders wrote: »

Yes. You are financially linked.

Because of the joint bank account or because we are married?

Any way around this?

ValHaller

deano3 wrote: »

It has to be a single application in my name.

I know the lender does allow single applications, are you saying because its a joint banking account the dept in her name will affect the application in ny name?

But why? It is pointless being coy about this, you might as well give the facts and get the best help.

deano3 wrote: »

Because of the joint bank account or because we are married?

Any way around this?

It is the joint bank account which is linking you.

chanz4

joint account

deano3

ValHaller wrote: »

But why? It is pointless being coy about this, you might as well give the facts and get the best help.


It is the joint bank account which is linking you.

Has to be in my name as wife has just started a new job with agency and lender wont accept her, cant go to another lender as looking at 95%LTV with a property I rent in the background, thus only one option.

So when im sat across from my broker and I tell him I want to make a single mortgage application and I have no credit card dept, all forms including statements etc are sent to the lender how will they know my wife has credit card dept if they don't (as its not her app) credit check her, other than seeing the direct debit on statement?

ValHaller

deano3 wrote: »

Has to be in my name as wife has just started a new job with agency and lender wont accept her, cant go to another lender as looking at 95%LTV with a property I rent in the background, thus only one option.

So when im sat across from my broker and I tell him I want to make a single mortgage application and I have no credit card dept, all forms including statements etc are sent to the lender how will they know my wife has credit card dept if they don't (as its not her app) credit check her, other than seeing the direct debit on statement?

I don't know what the brokers here will say but my feeling is that you are probably worrying unduly - as long as she has no defaults and her payment history is clean, if it hangs together on your finances, that should be good enough.

But overall, I would be thinking that there should be solutions out there which allow her to be on the mortgage. Is your broker backing you into a corner over this particular lender?

deano3

ValHaller wrote: »

I don't know what the brokers here will say but my feeling is that you are probably worrying unduly - as long as she has no defaults and her payment history is clean, if it hangs together on your finances, that should be good enough.

But overall, I would be thinking that there should be solutions out there which allow her to be on the mortgage. Is your broker backing you into a corner over this particular lender?

Thanks once more for your reply, ive done a lot of research and only seems to be one lender which fits our circumstances. As im sure your aware 95% LTV are very sparse, even more so when they also have to take the view that a rent in the background can be ignored, so long as it takes care of it self. I can only find one lender.

That one lender wont accept my wifes new employment so I have to go solo.

I don't think I will be able to lend want I need if they include credit card dept in my affordability (despite being able to afford repayments easily) so im hoping any dept in her name wont impact on what I can lend.

deano3

Could one of the brokers on here kindly advise on this?

Thankyou