Single application, spouse bankrupt 29 November 2014 at 7:54PM edited 29 July 2016 at 11:23PM in Mortgages & endowments 13 replies 1.7K views

The_Real_Cheddar_Bob

Hello,



Any advice welcome.

Thanks

ACG

No chance.

Your bankruptcy will always get picked up and most lenders will ask if you have EVER been bankrupt.

If you can up your deposit to 15% you MAY be able to get it through in joint names now, but its worth speaking to a broker with some experience in adverse as it will be far from straightforward.

The_Real_Cheddar_Bob

Just to confirm,

Mortgage in my wifes name only. Can she use my income?

Increasing the deposit size is no issue. Just take an extra month or so.

gunsandbanjos

rjwr wrote: »

Just to confirm,

Mortgage in my wifes name only. Can she use my income?

Increasing the deposit size is no issue. Just take an extra month or so.

No she can't use your income.

shortchanged_2

rjwr wrote: »

Just to confirm,

Mortgage in my wifes name only. Can she use my income?

Increasing the deposit size is no issue. Just take an extra month or so.

I don't see how she can apply on your income. Your income is yours and hers is hers. She would need to use her income if she is applying for the mortgage in her name only.

The_Real_Cheddar_Bob

Thank you for the response.

Its what I expected but wanted to confirm. Not sure how my ex busines partner has done this, I will check with him.

The_Real_Cheddar_Bob

shortchanged wrote: »

I don't see how she can apply on your income. Your income is yours and hers is hers. She would need to use her income if she is applying for the mortgage in her name only.

Same way a housewife applies for credit elswhere. Eg PCP on her car using my income.

Thrugelmir

rjwr wrote: »

Mortgage in my wifes name only. Can she use my income?

It's not hers to use. You are not party to the application. So lenders would have no ability nor authority to verify the information.

The_Real_Cheddar_Bob

What about a guarantor mortgage? In laws happy to help.

Thrugelmir

rjwr wrote: »

What about a guarantor mortgage? In laws happy to help.

Very few lenders now offer this route. Your in laws in themselves would be open to a thorough financial scrutiny.

The_Real_Cheddar_Bob

Thanks for your advice folks. It is what it is.