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mortgage application
prmc70
Posts: 1 Newbie
Can anyone advise. .I am still named on my ex wife's mortgage even though I hold no stake in the house and make no payment towards the mortgage. My second wife and I can afford to pay a mortgage but will we be considered when I am technically on the hook for my ex wife's mortgage? (even though if she defaulted I would let the bank repossess the house! )
Cheers
Cheers
0
Comments
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Depends on how much you earn, how much you want to borrow etc
Letting the bank repossess would not be a good idea unless you want your credit file trashed for the forseeable future and no chance if another mortgage for some years.
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Yes, your obligation will be taken into account when the assessment of your borrowing power for your mortgage is made, same as any other credit commitment.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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