Married Couple - Mortgage in one name only?

lemonmoney

Hi,

Firstly, I realise this forum is for basic information and that we should seek advice from a broker and we shall be doing this in the New Year.

We are a married couple looking to buy our first home. We have a deposit from inheritance of approx £17,000. However, my credit rating and history is poor due to a redundancy where missed payments were made and a default which will not fall off until 3 more years. We are working professionals and can afford mortgage payments. My husband has an excellent score and because of this we would wish to purchase a property in just his name. The mortgage would be smaller because of this but would banks lend to just one partner?

We have no joint assets (just never bothered getting a joint bank account etc) so we are not financially connected in any way in that respect. If my husband was just to apply alone would they want me to go in too and explain circumstances etc?

Thanks

joujou

Yes banks will lend to one partner.

Your husband should not classify you as a dependent (and you're not because you have your own income).

Kynthia

I'm not sure that every lender will. So a broker is best to make sure you apply to the correct ones.

kingstreet

Don't give up on joint option too soon.

I did a high street case with two three year-old defaults earlier this week.

Let a broker do this and stop second-guessing what can be done on here, it's pure speculation.

Yes, I know I've speculated just the same...