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Joint Mortgage
Pineapple2018
Posts: 1 Newbie
Hello, I'm new here and was hoping to get some advice on a joint mortgage. In a nut shell:
* Current home/mortgage is solely in my husbands name (he bought it before we met)
* We hope to get a bigger place soon, and would like to get a joint Mortgage
* I have a personal loan of £9,500.00 which is a reconciliation of all of my debts, this loan is with my bank and I am paying off a set amount (£350.00 per month)
Will my loan cause issues for us wanting to get a mortgage together? I don't know if it's relevant but my husband put down a £30,000 deposit on the house when he bought it for £125,000 a few years ago, he has no debt, he earns £25,000 a year and I earn £17,000 a year.
Thank you
* Current home/mortgage is solely in my husbands name (he bought it before we met)
* We hope to get a bigger place soon, and would like to get a joint Mortgage
* I have a personal loan of £9,500.00 which is a reconciliation of all of my debts, this loan is with my bank and I am paying off a set amount (£350.00 per month)
Will my loan cause issues for us wanting to get a mortgage together? I don't know if it's relevant but my husband put down a £30,000 deposit on the house when he bought it for £125,000 a few years ago, he has no debt, he earns £25,000 a year and I earn £17,000 a year.
Thank you
0
Comments
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It will make a £350 a month sized hole in your new mortgage affordability.
Test lender affordability calculators with and without to see the impact.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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