A mortgage without the wife on?

Jambo5

Hi again, new thoughs being brough on by my works mates.
Situation, I am in Army and want to but a house back home some 350 mile away, I want to move wife back there and hopefully I will leave Army as soon as she has a job!

Problem is my CR is not the best but getting there now, the wifes is brilliant but she has car finance..£172 a month and 3 k on CC.
We recon we can clear this easily by end of year as well as saving.

Now she would have to give her job up here therefore she cant contribute to the affordability. But it was suggested that she could still be on mortgage and be put down for 'zero income'.

Ok, so if she was but onto Mortgage, she would then be classed as a dependant lowerring my affordability by 10k, correct?

My wife is a teacher(another reason why I want to be in England for her) so Im sure she will get work or at least supply teach.

So here were the thoughts today, just we continue to build deposit and leave her off mortgage all together? If I walked into a bank and said 'I am married' and its a sole application, will they not ask me where my wife is living'?

I think I can get around 130k and I have about 10k, I understand now we need an extra 3k for fee's? But as I said I think il need a slighty better deposit than a 5% one what with my CR.
I know there is nothing easy for me or people in the forces, just want to know what you would do in this situation, and if you have been in this position what would you advice?

Thank you all very much!!

Thrugelmir

Jambo5 wrote: »

Ok, so if she was but onto Mortgage, she would then be classed as a dependant lowerring my affordability by 10k, correct?

She's financially dependent on you. To omit this fact wouldn't be wise. Whether she's named or not.

ACG

Im sure I have said this before...Lenders in the main do not like (as in do not accept) single applications for married couples.

The deposit would not be all of yours and so this could result in further issues.

Have you still not spoken to a broker? Your speaking to your mates but you need professional advice. It MAY be possible to do what you want, but not with every lender. But without getting someone to sit down and do the research for you, you will never know.

Landofwood

ACG wrote: »

Im sure I have said this before...Lenders in the main do not like (as in do not accept) single applications for married couples.

The deposit would not be all of yours and so this could result in further issues.

Have you still not spoken to a broker? Your speaking to your mates but you need professional advice. It MAY be possible to do what you want, but not with every lender. But without getting someone to sit down and do the research for you, you will never know.

It's not acceptable for a grown adult to not understand the difference between your and you're. Repeatedly. Your business partners will respect you more if you can grasp it. I hope you take more care with your clients' applications.

OP, a broker will review your situation and advise the best lender.

audigex

Landofwood wrote: »

It's not acceptable for a grown adult to not understand the difference between your and you're. Repeatedly. Your business partners will respect you more if you can grasp it. I hope you take more care with your clients' applications.

OP, a broker will review your situation and advise the best lender.

Get a grip, he's not at work now and this isn't an English Grammar forum. As long as it's understandable and sensibly written, who cares?

ACG

Its not acceptable to who? You?! Oh no, what will I do.

As for my clients applications, thankfully the underwriters do not assess my use of the English language as part of their criteria.

An advisor will not be along on this forum to recommend a lender because we are not allowed to name lenders with limited information.

Jambo5

Thrugelmir, though as much. Knew deep down I couldn't go it alone.

ACG, I apologise. You have said this before and I have looked through for a broker. First one I spoke to was over email and down on England. Did not get to far with him as my other thread's will clarify. I also followed links via 'unbiased' and there are zero advisors in my current area.

Can something as important as a mortgage be intially started over a phone. I have found out how to view your companies and some of the brokers I have looked at only deal face to face??

So how and where do I start up here?

audigex

As far as I'm aware you can do the majority of it by phone - I know some building societies do business entirely over the phone.

Jambo5

Thats good. Suppose we are in the 21st century.lol.
Anyway. Thimk I finally have aĺl the answers I have wanted out of all the posts i have put on here. Next time you will hear from me is when I get the green light(hopefully). Thanks for all the advice guys.

ACG

Jambo5 wrote: »

ACG, I apologise. You have said this before and I have looked through for a broker. First one I spoke to was over email and down on England. Did not get to far with him as my other thread's will clarify. I also followed links via 'unbiased' and there are zero advisors in my current area.

Can something as important as a mortgage be intially started over a phone. I have found out how to view your companies and some of the brokers I have looked at only deal face to face??

So how and where do I start up here?

The broker does not need to be in your area, have a call around a few and find one you get on with. There are no shortage of brokers so just keep going until you find one.

Maybe find one in the area you are looking to buy?

Landofwood

ACG wrote: »

Its not acceptable to who? You?! Oh no, what will I do.

As for my clients applications, thankfully the underwriters do not assess my use of the English language as part of their criteria.

An advisor will not be along on this forum to recommend a lender because we are not allowed to name lenders with limited information.

I never suggested a forum broker would "be along to recommend a lender". In fact I strongly discourage anyone to take the advice of a faceless broker on this forum. Most seem to spend more time on this forum than doing their paid job, which says a lot.

However, I am a proponent of using a recommended broker for anything except the most straight-forward of mortgage applications.