help & advice please?

roymoz

hi. my wife and split up a few years back & she wants to come the mortgage. I went down to the provider(nationwide)and have a telephone appointment in 2 weeks. I will then be credit scored to see if I can afford the mortgage.if all goes well then I'm to have another meeting in person in branch. I've been paying the mortgage on my own for 3 years now & have never missed a payment.if they deem me unable to do so or I fail the credit score what could happen?

roymoz

ok. so I had a telephone interview a week before schedule! they went through a few questions as part of an affordability test. I failed this test I then got in touch with my ex & told her whats happened & she's chosen to stay on the mortgage. saved me a lot of hassle me thinks. I rang nationwide back & explained the situation & they were fine. I can't believe I failed. I've been paying the mortgage alone for over 3 yrs.

Annisele

Nationwide doesn't just care about whether you can afford the mortgage now , when interest rates are exceptionally low. They also care about whether you could afford the mortgage if interest rates rose another 4% or 5% or so (I'm not exactly sure what figure they use for stress testing). It's possible that that's the problem.

Are you and your ex still married? If so, you might want to consider sorting out a divorce and splitting your finances properly; as things stand either of you could (try to) claim half of the other's assets while you remain married.

roymoz

yes, were still married but have been separated since june 11'. she doesn't want anything moneywise as she left me with all our debts, which were in my name. when I spoke with nationwide I thought it was because of these debts I'd been knocked back. this time next year those debts will of halved & I'm looking into overpaying what I can on the mortgage before the ex would like me to take her off(or try to)again. somewhere in the next 15-18 months.

Thrugelmir

Deal with your debts before overpaying the mortgage.