post deleted

hazoo

post deleted

amnblog

I do not see your boyfriend as a dependant in the way a spouse would be.


The Lender will ask if anyone over 17 will be staying at the property so unless he is 16 or under you will have to fess up to that!

betmunch

Saying "we are planning to buy a house" would imply that he is going to be on the mortgage application.


If hes on the mortgage application the lenders will adjust their lending accordingly.
If you buy it and he lives with you then lenders will adjust their lending according to how they view that instead.

hazoo

Thanks both. He will not be on the application as he has no income as such, only his summer work and bursary. Once we are married and he contributes he will be added or when we remortgage.

Presumably if he is not on the application then he is a dependant. Is this going to be a problem? Meaning will I be lent less?

amnblog

He is not a dependant if you are not pooling your funds and 'supporting' him.

kingstreet

If he isn't party to the mortgage, he won't be contributing any deposit and won't be named as joint owner?

hazoo

Sorry guys I am getting confused by all the terms.

I didn't think he could be named on the mortgage when I apply seeing as he has no earnings. To be honest before he proposed I was not even going to mention him when applying as I thought it may complicate things.

Am I obligated to name him as a dependent or can I just make things simpler by leaving him totally out of it until the time comes where we remortgage and are by then married?

kingstreet

Is he contributing to the deposit?

Does he wish to be joint owner?

These answers will determine where we go from here.

You are incorrect to suggest he can't be party to the ownership/mortgage if he has no income. Plenty of "housepersons" with no income are joint owners/mortgagors.

hazoo

Thanks for your reply,

He will most likely pay for the fees, moving costs etc. and possibly some furniture. Probably in the region of 2/3k. He would like to be on the mortgage at some point but it is not hugely important to him right now if it made a difference to how much I could borrow.

I will be putting the deposit down in the region of 16k. He will contribute to the household bills as and when until next year when he graduates and (hopefully!) get's his grad job.

This is when we thought of adding him to mortgage once he has been in job a few months.

I suppose what I am trying to get at is that we don't mind whether he is on the mortgage or not in the short term as long term he will be added, but in the short term we don't want to hinder what I could borrow because of him, so what would be best to maximise our chances and lending?

Sorry I am not very good at getting to the point!

betmunch

Hes only a dependant is he depends on you for financial support, age is irrelevant here. He has his bursary and summer work so he could be considered non-dependant, but only you know the true situation.


If he is supplying any deposit money he will be expected to go on the mortgage by the lender in the bulk of cases.


If he is not providing any deposit money and he is not depending on you to support him then he will still need to be named as living at the property, which some lenders will penalise you for even as a non dependant.


I think your situation is a lot more complicated that you realise, I recommend you speak to a broker to sort out which lenders will take you, and how much they might lend.

kingstreet

What 'munchy said ^^^