Married but want to apply for a mortgage alone

felixmeg

Hi
We live in a shared ownership property with a housing Association 50/50 share.
The mortgage, lease and land registry are all in my husbands name only, I just have a beneficial interest registered with the land registry title.
With all the new builds going up and my husband having a charge on the current house, we are considering me getting a mortgage on a new shared ownership house and once this house as sold we use the equity left towards a deposit or pay a lump sum off the mortgage I take out.
However, I’ve been told conflicting information by 2 mortgage advisers. One said I could borrow enough and it was fine. But another today said I would have to put my husband down as a dependent even though he will be paying half the bills (like I do now) and that halved what I could borrow...

Anyone know who is correct?

enthusiasticsaver

Use the advisor who said it will be ok then but make sure with them first. I would not have said your husband was a dependent if he is working and paying bills.

Sounds like a really complicated thing to do though. Is it not better for you to be named on the deeds and you take out a joint mortgage to buy the remaining 50% on your existing house if you are able to do that? Why do you want another shared ownership house if together you could afford to buy outright?

Shared ownership is a bit of a mystery to me though so ignore if this is not allowed.

felixmeg

I want to sell to get rid of the cloud of the charge on the house we live in. The only way is to sell to pay it off it the creditors don!!!8217;t accept a lump sum offer. So this is hypothetical at the moment.
Sell up, get rid, new start!