partners money paid into my bank

amybaby

Hi all
My boyfriend was out of work for a while but has since got lots of work and his wages have been paid into my bank as I pay all the bills etc. It's all legit tax paid etc I have been transferring some of it into his bank.
I'm looking at buying my first property on my own. Currently renting.

I know if you apply for a mortgage you need to give bank statements etc. Would this make a difference if it shows his money going into my bank? I'm not expecting it to be considered as an income but would it look "dodgy" ?
I have good credit but wondering if it's best to change his money from going into mine over the next 3 months then apply?

I've found a house I really like and think it will get snapped up quite quickly

Thanks for reading any advice is much appreciated x

kiddakidda

I wouldn't say so but the lender may ask the question why it's directly transferred into your account.

Either way there should be a clear audit trail that goes back to his employer an thus provides proof of source and that all usual taxes are being paid.

The reason for it being put into your account is purely based on how you co-habit and pay your bills.

Good Luck

McKneff

If he has a bank account, why are his wages not paid into his own account and then he transfers some of his wages to your account for bills etc. ????

Dave_Ham

This will be lender specific and may be worth engaging a broker, or getting lucky with your selection.


Some lenders would want to see this as a joint application and I would imagine it is paid into your account for a reason. Either poor credit or poor money management and the same for the sole application mortgage.


There are lenders that will be comfortable with this, just certainly not all.


Good luck

Thrugelmir

What's the issue with your partners bank account?

paul1988

Did this with LBS as my wages were getting paid to my girlfriends account,they just wanted to see her bank statements to prove it was going in there.

since that I have obtained a mortgage offer and in the final stages of my purchase.

good luck