Mortgage application & dependents advice

MrsEff

Hi, My partner and I have been looking at sorting a mortgage to buy our first property. We were in discussions with one lovely mortgage advisor who was very helpful but as we've decided to possibly purchase a new build she was unable to help us any further.

I am self employed and don't currently have a years worth of accounts so the mortgage is going to be completed solely in my partner's name. The previous mortgage advisor seemed to advice us that we could apply for the mortgage in his name and not list myself or the children as dependents as I am not financially dependent on him; we have no joint accounts, I have my own wage and the child benefit goes into my account and in my name.

The second mortgage advisor I have spoken to today seems to think that this is wrong and that we would not be able to do this.

Despite numerous Google searches I am not finding out much about this so would be really grateful for any info or previous experience knowledge.

Thanks

Thrugelmir

MrsEff wrote: »

The previous mortgage advisor seemed to advice us that we could apply for the mortgage in his name and not list myself or the children as dependents as I am not financially dependent on him; we have no joint accounts, I have my own wage and the child benefit goes into my account and in my name.

Bad advice for a number of reasons. It is in your interests (and by connection those of the children) to be named on the mortgage. While owning your own house is fully understandable as a dream. Trying to bend round rules which are put into place to protect people from themselves simply isn't worth it. Don't lose the dream. Keep saving for the deposit and in time the circumstances will be right.

amnblog

To be short.


Your previous mortgage adviser was encouraging you to commit mortgage fraud - your current one is not.

kingstreet

In whose name is the deposit stored?