Joint Mortgage & Credit History

Sherpa_Walker

Hi,
Looking for a bit of advice. Me and my husband have a little credit card debt left over from our wedding. We're also looking at having my name added to his mortgage (as I'm paying towards it). However - he has a poor credit history from 3 years ago - arrears and two defaults (both satisfied).
How much will the financial association created by the joint mortgage affect my ability to get 0% balance transfers etc in the future (6 months +). To be honest I'm hoping to have cleared it all by then but I'm wondering if the financial association will stop me getting credit anywhere until this all drops off his file in 3 years?

I guess more than anything I'm keen to know so that I'm realistic about this! Given that I'm paying towards the mortgage and that we're married anyway I'm assuming the best thing is for me to be on the mortgage as soon as possible?

Thanks for your help!

Sherpa_Walker

the credit card debt is in my name only and affordability wise we now earn a decent joint wage (£80k+) but this is still relatively new - hence the lingering balances which is going down quickly

Tixy

Assuming you are not financially associated (no joint current account) then becoming financially associated could well impact on your ability to get credit and get 0% deals.

Perhaps you could hold off on being added to the mortgage/land registery but look in to whether its worth you having an agreement/deed of trust drawn up in relation to your contribution to the property/your right to a share of equity (I don't know whether this is necessary as you are married).

Thrugelmir

Pay the credit card debt(s) off rather than the mortgage. Then when you come to be added to the mortgage all will be well.

Are credit card balance transfers really necessary on your joint income?