Can my debt prevent my husband getting a mortgage?

Choochi0

Hi all,

I bought my home before I met and married my husband. We want to move, but I have credit card debts that mean that we can't borrow enough together. If my husband applies alone we can borrow much more, but the deposit will be from this home, so it will be my money and we have a joint account for all the household bills.

Are there mortgage providers that will give mortgages under these circumstances?

We have some extra money to save each month, my debts are all on 0% offers and I know I am paying through transfer fees, but I would rather save this money so we have more to spend on a house (or to reduce the mortgage that my husband would need to borrow) and then pay back the CC debt once we are moved. Or am I going to have to get rid of these debts before we can get a mortgage agreed?

Thanks for any help

Thrugelmir

The deposit is strictly your money not his. Suggest you spend a while tackling your debts.

Let_Us_See

Choochi0 wrote: »

Are there mortgage providers that will give mortgages under these circumstances?

What circumstances? Apart from a short narrative you have provided no facts whatsoever, and yet expect a response?

Yorkie1

Let_Us_See wrote: »

What circumstances? Apart from a short narrative you have provided no facts whatsoever, and yet expect a response?

I think the question is whether the husband can apply for a mortgage on a new property, where the deposit (i.e. equity from sale) comes from the wife alone, who will not be on the deeds / mortgage.

Dave_Ham

Couple of lenders will consider this, but not many

You may get a mortgage offer but will come undone when solicitors share specific details with the lender.

Best get some professional advice to make this work..

Best of luck

Beckyy

Why can't you use some of the money to pay off the credit card debts then buy the house together?