single mortgage application with joint bank account?

shelmids

Advice needed.

My husband and I can be offered more on a mortgage if he applies by himself instead of jointly, as I am unemployed. Does anybody know if he can do this, even tho we have a joint bank account??

Also, does anyone have any experience of getting a single mortgage when married, and which high street lenders are ok with this?

Thanks in advance!

kingstreet

What is the source of the deposit and what's the loan to value?

Okydoky25

Just done the same thing and had no issues at all. He showed them his own and our joint bank statements

shelmids

Hi kingstreet

The deposit is under a nationwide save to buy isa under my husbands name, we only have a 5% deposit

kingstreet

As long as the purchase and mortgage are in his sole name and you are not contributing to the deposit, you may be successful.

However, Nationwide does not like sole applications when those who will live in the property are a married couple.

I would ask your branch advisor to confirm this is acceptable before you start spending on fees.

shelmids

Do you know which lenders are ok with this?

kingstreet

It isn't part of published criteria, but an independent broker would be able to establish the best lender for you at the best rate.

Ask friends and relatives for a recommendation.

Wh05apk

It shouldn't make any difference whether you are on the mortgage or not, if in sole name, then you go down as a dependent which should reduce the mortgage to the same amount as a joint application, by doing in sole name you are only storing up problems for the future.

House.buyer.sarah

I got sole mortgage even though I had joint account with partner. ( not married though) he has rubbish credit rating so I went it alone and completed on our house 2 weeks ago whoppie !! It wS with halifax

cevans65

Hi there, we have just been in the same situation. We used Yorkshire Bank and they were fine with it, joint bank account etc but just wife's name on mortgage application.

If you have outgoings i.e. mobile phone in your name only make sure when u 'apply' they only look at his financial outgoings i.e. don't tell them of any of your outgoings as they will say he will be paying as you are unemployed and thus his overall outgoings higher.


Once you have the mortgage just get your name added to it - bank don't care, they rely on the other person i.e. your husband trusting you.

Thrugelmir

shelmids wrote: »

My husband and I can be offered more on a mortgage if he applies by himself instead of jointly, as I am unemployed. Does anybody know if he can do this, even tho we have a joint bank account??

Then you are financially dependent upon him. So best to declare your circumstances at the outset. In finance there's nothing worse than being misled as it leads to a breakdown in trust between the parties.