Mortgage decline due to financial link....with me

sso3es

Dave_Ham wrote: »

This is why as a broker we see the good, bad and ugly and know where to place specific cases.

Nationwide rejecting does not mean every lender will.

Additionally, when you have tricky circumstances; picking the most competitive rate is not really the best approach. Ideally you would select the most competitive rate you can achieve.

The source of deposit is a huge issue and will cause a bigger issue further down the line unless you address it now. You cannot gift the deposit to your OH and then live in the property without a registered interest (ie being on the mortgage)

So aside from score (which is irrelevant) what defaults. CCJ's or worse do you have and when are they dated?

Are they satisfied and what is the source of your deposit?

Her father wanted a registered interest in the house with his 80k (effectively to protect it from me) but he was told by Nationwide that it wasnt allowed. Therefore he had to write a letter to the bank explaining how he was giving the 80k to his daughter and he would in no way have a charge on the house. Effectively, I would do the same with my 20k......excuse my naievity but effectively, this house has nothing to do with me?

Regarding my debts, about 20k in total; 15k settled, 5k managed, 2 CCJ's in my time- 1 is settled and 1 is managed.

Dave_Ham

When were the CCJ's dated?

You cannot do this as it is a "gift" and the difference is that you will be living there, which affects ownership and repossession rights.

sso3es

even if I am only a tenant?

CCJ's were 2008 and 2011. The 08' one is settled

Dave_Ham

I am only piecing this together remotely with a fraction of the detail, but this could easily be a joint application with a non-highstreet lender.

Will not get Nationwide rates, but everyone can be appropriately protected.

No, you cannot be a tenant having "gifted" the deposit. There may be issues with the CCJ being unsatisfied and you having £20k, but that is why you need a broker to go through the detail and come up with the appropriate solution.