Joint to Single Application Advise

SimonQS

Good morning, I'm looking for some advise and help please.

We are selling our house in which we have a mortgage in joint names, half of the equity is being used for the deposit on the new house, and the other half is to clear my debt.

Now for the new mortgage, we just want to apply as a single applicant (me), as my other half started a business so doesn't pay herself anything, and has a start up business loan which is in her personal name, which she pays through the business.

The problem is that the mortgage provider wants it to be in joint names as our previous mortgage is in joint names. Is there anything we can do to avoid this, can she write anything to say that she has no interest in the equity or something along those lines?

Thank you in advance for any help, and if you need any further information then please let me know.

kingstreet

You will need a lender willing to accept such cases. You won't convince a lender to do this if it doesn't ordinarily do so.

There are lenders who will not lend where someone will reside in the property but who is not party to the purchase/mortgage but is contributing to the deposit.

Obviously, you will need to avoid such lenders.