Advice - Partners bad credit

Steph1078

Good morning, hoping somebody can shed a bit of light for me.
I will give you some rough figures so you understand the full situation...

I currently own my own house through mortgage with santander. I've sold my house at 166K with an outstanding mortgage of 67K. I'm currently in a fixed mortgage rate so my original intention was to move to a house and then remortgage next year to put my partner into the mortgage - based on the fact that he has a CCJ on his record. However we've found a house that is more than santander will lend me as a sole applicant.

The new house is worth 300K; Santander will offer me a mortgage of 140K - so with the deposit from my house sale 98K + I have 15/20K cash to put down.

So I'm now looking at paying the early repayment charge in the region of 2K (possibly less will need to find out). To remortgage with my partner on.

We both earn approx 35K a year.

He has a CCJ from 5 years ago (April 2012) so is due to drop off next April. But we don't want to miss this house.

He pretty much hasn't had any credit since then - the missed payments & CCJ are from when his Dad died and he was supporting his Mum to get back on her feet by paying her bills instead of his own and then burying his head in the sand. His score is around the 270 mark on clear score. Mine is around 500 - I've never had a missed payment ever.

Is is possible somebody will give us a mortgage; will it destroy my perfect credit rating by trying ?

Can somebody shed some light?

Thanks a lot in advance.

I do have 2 potential other options - to borrow some money from my brothers inheritance - he would 'gift' it to me and then when we can remortgage in April next year I would 'gift' it back but I'm concerned that if we can't remortgage then that his money would be locked into my house and I can't get it out - clearly it's a significant amount of cash (47K). So if this was the option we took what do we need to provide on remortgaging to release that money so I can gift it back to my brother ? Will they ask me to prove where the money will be spent ?

My Dad has offered to be named on the mortgage with me until we can remortgage next year - however he's 55 so will they only give us a 10 year mortgage term? Would we be liable to pay stamp duty again when we remortgage ? My dad actually wouldn't pay a penny towards the house so he would happily 'gift' his portion of the house over when we remortgage - and yes I trust my Dad 100%.

ACG

Im not sure whether or not Santander would accept you as I do not use them very often. However, depending on the finer details I do think there are a couple of high street lenders who would look to accept you both or worse case scenario a non high street lender with a rate of around 3.5%.