Sole application from married couple

Mtg_savvy

Oh by the way we had one child when applying to hsbc, we have a second now. Due to my wife's credit history we've strictly kept our finances seperate so to not bring my credit score down, we've never had a joint bank account or applied for anything together, the deposit monies were shown to come from myself also. We're married so we are not bothered whose name the house is in, we see the house belonging to both of us equally, we're very sensible on that.

Mtg_savvy

kingstreet wrote: »

What you are not aware of, as the OP started a new thread, is that in a previous thread she disclosed that the money from the deposit is not solely in her name and this will create a problem with any lender.

They do not like the deposit coming from someone who will live in the property who is not party to the mortgage, nor the ownership.

Rigggghht, now I see how the OP could have an problems with finding a mortgage provider, I suppose it's down to trust whether the husband will allow the deposit money made to look as if solely achieved by the applicant.

Mrsbear

kingstreet wrote: »

What you are not aware of, as the OP started a new thread, is that in a previous thread she disclosed that the money from the deposit is not solely in her name and this will create a problem with any lender.

They do not like the deposit coming from someone who will live in the property who is not party to the mortgage, nor the ownership.

Eh? I've only started one thread about this and the bit about the deposit is within this thread.

Thanks for all the advice though everyone- food for thought.

kingstreet

I'm sorry, it was you who had the deposit in the husband's name and wanted a mortgage/property in her sole name, it's in your opening post, when I thought I'd read it elsewhere.

I must be getting mixed up. We get so many repetetive threads on here sometimes, it's difficult to keep up.

Either way, the substantive issue remains the same. His deposit, your mortgage and purchase = problems!

The thread I linked to is experiencing the problems I have alluded to here.

Mrsbear

Thanks Kingstreet, I know what you mean about threads being similar- the trouble is no 2 people are in exactly the same situation- I guess that's why we need brokers!

Just one more quick question- if we sold our current house and the deposit was in my account for 6 months, would the banks still question where it came from?

kingstreet

Maybe, maybe not.

They normally delegate such enquiries to the solicitor who will be acting for them,as well as for you.