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Query about income towards mortgage calculation
Szoom
Posts: 1 Newbie
Hello.
I will soon be applying for a mortgage as a first time buyer. I am married but only myself will be applying for the mortgage.
My husband pays money into my bank account each month to cover his half of the bills and rent. Can this money be counted as other income when applying for a mortgage or is it purely my wage that the lender will take into account? It is a set amount every month.
Thank you.
Sharon
I will soon be applying for a mortgage as a first time buyer. I am married but only myself will be applying for the mortgage.
My husband pays money into my bank account each month to cover his half of the bills and rent. Can this money be counted as other income when applying for a mortgage or is it purely my wage that the lender will take into account? It is a set amount every month.
Thank you.
Sharon
0
Comments
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Purely your wage.
Also make sure the lender you go to knows you are married, not all lenders will lend to one applicant who is married. Also if you are doing it to avoid bad credit on your husbands side, just ensure you are not financially associated, if you are you may find you struggle.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Why not include your husband on the application?0
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A. It's completely your wages as you can not produce wage slips for internal transfer.
B. If you are married than not all lenders will lend to you as a single applicant.
C. However woolwich Barclays (one I know) might lend even if you are married.
D. You must match your income with your wage slips.
Best wishes.0
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