Help much appreciated, married but require sole mortgage

sophiedophiedoo

Thanks everyone, we have an aip from Halifax Carlos so I reckon we will give them a try. Thank you, it's really music to my ears that someone in a similar situation managed to get a mortgage.

carlos13

AVG i'm trying to help sophie not get into a debate with you.

You may be a mortgage broker, you may be right and i may be wrong, but i am advising her of my perspective from being in a similar situation.

As my wife has no credit i made a choice to leave her off the mortgage, i will pay to get her added to deeds at a later point. If sophie can not (i'm not saying she can't) get accepted jointly then her partner will be solely on the mortgage which puts us at the same point. I have also been told by halifax that if i put through a joint application and it fails, i can't put in a sole application for 3 months so i made a cautious decision.

As my wife holds the deposit this again matches sophie. As Sophie is going with halifax like me, my dealing with them are ideal for her.

As sophie requires a letter, my experiences again are valid as i have been asked for one written by my wife. Halifax did tell me about the advantages of having my wife on the mortgage but they were outweighed by the negatives. They respected my decision and proceeded to full application.

To me it sounds like Sophie wants to have a single application go through and people are pushing them in a direction she doesn't want to go and this is causing her stress.

Sophie, personally i would proceed the way you are and if you have any issues with what your mortgage adviser is telling you, question Halifax bank directly, after all it is their policies. There is not one rules for me and a different set for you.

ACG

But telling the OP that someone who has given them advice is talking out of their backside when your circumstances are not identical (and thats from the limited information we have, I suspect there are more differences) is not being helpful, you could be pointing them to a lender who does a credit check at application stage and declines it - therefore you have no only wasted their time but also had an impact on the credit score, which in turn can make it even harder with another lender who may be more inclined to accept their circumstances.

Appreciate you do not want to get in to a debate which is fine but without knowing the full story pointing them to a lender and saying the advice they have received is bad is not being helpful.

carlos13

what i have stated is a fact... she doesn't need to be jointly on an application in order to gift a deposit (in my experience with Halifax) just because she is married.

That is pretty much the question she was asking if we put aside the circumstances.

You haven't given a yes or no answer to this.

I didn't have to and my mrs holds the deposit.

I also mentioned about the affiliation if she has a joint account with hubby just to be on the safe side.

i didn't tell her which bank to go with however its funny she already had AIP with Halifax already.

ACG

Ive not answered the question as I cant. Theoretically it is possible but in the circumstances for the OP im not sure.

AIP with halifax are worthless as they are soft footprints. Again, not worth the paper its printed on.

DreamerFTB

Carlos, read the forum for a bit more before advicing people, this is the second misleading answer I see from you (in another one you were asking for the experian score....).

amnblog

I cannot see the problem here Sophie?

If your father in law is prepared to gift the necessary deposit to your husband to allow him to purchase in his own name - that is the simple solution.

A gift letter to the lender will be required.

What you and your husband do with your remaining funds from your father is a matter for you.

You should be aware that some lenders do not allow single applications for married applicants. We also sometimes see poor credit history on one spouse bringing down the credit score on the other spouse.

For these reasons you will find a mortgage broker to be very useful to you with your application.

carlos13

DreamerFTB wrote: »

Carlos, read the forum for a bit more before advicing people, this is the second misleading answer I see from you (in another one you were asking for the experian score....).

Yes because your 8 posts show a wealth of experience!

So what was the first bit of misleading information?

I was asking about credit score as i have been advised on a joint application the score is averaged between the 2. a credit score can determine what deposit they'd expect from you. in my experience I passed with a B pass and was asked for 15%. after 6 months of improving my score by almost 200 i got an A pass and 10% was requested.

Credit rating does play its part so maybe you should go read some more posts... hopefully this will fill the blanks.

ACG

Whoever advised you doesnt have a clue.
No lender (im aware of) averages the 2 scores from any of your credit reports, they do not even use the score from your credit reports. They use the information only and combine it with the info on the DIP/Application to come up with their own scores. Lenders do not release how they score your application or the information they take into account and how much weighting it has.

I realise on this thread I look like a dog with a bone and I apologise for that, but your replies are not being helpful to the opening poster.

Naming a lender who accepted you is likely to mean that the person goes to that lender in the hope they also fit as the circumstances have some resemblances .

As it happens in this case they had already been to the same lender but you did not know that at the time. Its seen as leading and brokers get castrated for it, your not a broker so would not fall into that category but you also dont know what your talking about so your not helping and potentially doing more harm than good.

Again, not here to argue but I think its important people do not read your replies and think Halifax are the magic answer to anyone with DROs/Adverse.I think I have said my piece on this post so I will leave it there.

amnblog

The advice from Carlos is not relevant to Sophie as the issue with the deposit is that it is being supplied by her father - not a direct relative of her husband who is the applicant.