Sole mortgage application when married- deposit?

[Deleted User]

My husband would like to apply for a sole mortgage for us to buy a house (we are FTBs). We are aware only a few lenders will allow this, however my question is regarding deposit- which will be a gifted deposit from both his parents and mine. Will a gifted deposit from my parents present a problem when I am not an applicant on the mortgage? Or if they just gift it directly the him with the usual letter will this be fine? We have a broker and will be speaking to him first thing tomorrow but just after some advice in the interim. Thanks!

[Deleted User]

Does anyone have any advice on this?

HappyMJ

[Deleted User] wrote:

Does anyone have any advice on this?

You're speaking to the broker. The one person who knows your financial details and can give you advice is your broker. We can guess and give you conflicting advice. The most accurate advice wil be from your broker.

If I were you I would request to be on the mortgage but you haven't mentioned if you're bankrupt or had a DRO or in an IVA or even have CCJ's against you which would all prevent you from being on the mortgage.

Even if you earn nothing at all you can be on the mortgage.

[Deleted User]

Apologies, I didn't realise my reasons for not being on the mortgage were relevant to my question.

I earn a salary but have a very poor credit history which restricts us to one lender (Precise) when we apply jointly. My husband couldn't borrow as much on his own, but we are considering doing this and purchasing a cheaper 'fixer upper' property for the better interest rate and lower deposit. Would any lenders allow this?

I will of course be speaking to my broker, but I enquired on a Sunday when he does not work and he is out of office today so just looking for some idea of whether this would be possible before we can speak to him. Thanks!

[Deleted User]

My broker is OOO today but sent me a quick email from his phone to say that it was possible in theory, and he’s suggested Santander as they apparently lend the most times salary- however he sent me the calculator and it’s not showing that my husband could borrow very much at all. He didn’t answer my question about deposit, I’ll speak to him in more detail tomorrow. In the meantime does anyone know?