Help regarding remortgage when married

flathunting

Good Afternoon,


Please can someone give me some advice?


Currently I have a mortgage in my own name. Taken out in 2013 and at the point of re-mortgaging (next November) will have 18 years left. I bought the house whilst I was single but fast forward 3 years, I now have a partner and am due to get married next May. My current fix ends next November, so at that point I will be married.


I am wondering how this works with re-mortgage and the mortgage being only in my name. Does my partner have to be added to the mortgage as we are married? (I have no problem doing this but he doesn't have a great credit rating). We currently use a joint bank account for our salaries and bills so not sure how this would affect things also.


Any help would be greatly appreciated.

National_Debtline

hi flathunting,


You are not required to put your partner on your mortgage just because you are married, that is a choice you will need to make together. You may want to consider taking some legal and/or financial advice before making your decision. You also need to think about how much you have invested so far, and how you may want to protect/ 'ring fence' that portion. Legal advisors can guide you far more about this.


If you have a joint bank account then you will have a financial association on your credit files so they will be influencing each others. You should be careful because if your partners rating is poor then that may be having a negative affect on your file which may affect what products you are offered in Nov 2017. If you split the bank account and register a 'financial disassociation' you can stop the financial link.


Laura
@natdebtline