Unmarried couple mortgage: one bad credit one good credit

Poppy137

Hi,

I'm after some advice if possible! Myself and my Fiance want to apply for a mortgage however I have bad credit and he has excellent credit. (£700 default from a credit card whilst at university in 2011 which is now settled.)

We are looking at a 100k mortgage which my partner could easily get by himself if we are not accepted as a joint mortgage. However I'm paying half of the deposit, and half of the repayments so really want my name to be on the mortgage. Will this ever be possible?? Or is it not even worth trying?

Thanks very much!

kingstreet

What's the loan to value?

Is the default registration date more than three years ago?

When was it satisfied?

If you are contributing to the deposit, many lenders will be uncomfortable if you aren't party to mortgage and ownership.

Poppy137

Thanks for your reply.

We're looking at a 90% mortgage.

Default is just over 3 years ago and was settled 2 years ago.

I see, so realistically I would have to be on the mortgage or we may not be able to get a house at all.

We're both first time buyers so pretty overwhelmed!

kingstreet

I suggest speaking to an independent mortgage broker to establish your options. Ask friends and relatives for a recommendation. Avoid "limited panel" estate agency chains for mortgage advice.

amnblog

Be ready to put down a 15% deposit.