Mortgage in single name

hillco85

Hi

Can somebody possibly help me with the following query...

We are in a position where we could pay off debt quicker vs save a 5% deposit quickly.
My wife may need to leave work, which I know means that she may be classed as a dependant if I apply for a mortgage. We have a joint bank account and my wife has no debt. My question is..would a lender decline a mortgage if we balanced transferred my credit card to my wife's and applied by myself. As we have a joint bank account would we be linked and then possibly declined?

Any information would be much appreciated.

Thanks

foxy-stoat

They wouldn't flat decline you for just balance transferring your debt to your Wifes credit card a few months prior to you applying for a mortgage.


Speak to your broker for your options.

Thrugelmir

Your wife is a dependent even if she's not party to the mortgage application. As she still exists and is most certainly financially dependent on you.

ACG

You need to be careful with this, I have spent the last week working on something similar.

Not many lenders will do a single application for a married couple. Added to that, presumably your wife has helped towards the deposit?

There are a couple of lenders you can probably do it with, but not that many so either speak to a broker or do your research before applying.

hillco85

Thanks for all of the comments/feedback.