declaring kids on mortgage?

seanwinf

I was hoping to get some advice please. When i bought my house didnt have kids or wife so its all in my name. I now have kids and wife and wanting to move house and take a new mortgage but how do i go about declaring kids and wife? from some calculators how much i want is a push with kids etc on so not sure how it works do i have to declare and do they check? Wife understands that she wont be listed on mortgage.

Annisele

If the lender doesn't ask, you don't have to tell them.

If the lender does ask, you have to tell the truth - anything else would be mortgage fraud.

Pixie5740

Are you using a broker? Some lenders don't like it when a spouse isn't named on the mortgage as they do have a beneficial interest in the property.

As for the children, how old are they? If they are under 18 and dependent on you then that gives you less disposable income therefore lenders will let you borrow less than if you had no children.

Thrugelmir

Irrespective of the whether your wife is named on the mortgage. In completing the application form you will be required to declare dependents, i.e. your wife along with your children. Failure to do so will be considered fraud. Which could be put your your whole mortgage application in jeopardy. Along with any future applications to other lenders.