Remortgaging from joint to single.... bad credit

linnerr

Hi, its my first thread so please bear with me .


I have a joint mortgage with my husband (since 2006) with NRAM desperate to remortgage as currently not a great deal. My husband has an excellent credit rating mine is very poor. We applied for a Santander mortgage in single name of my husbands, he passed AIP as salary/LTV all fine however declined early on as our new mortgage name not in same as current name on deeds on property.


My q is would we would ever be joint accepted for any mortgage as I have poor credit or could my husbands good credit outweigh this?
Or is it poss for me to remove my name off the title deeds just keep my husbands and then apply for single mortgage or would this be refused as I am still living in the house even if I am off the deeds?


Any advice would be really greatly appreciated.


Thankyou


Lindsay

kingstreet

Many lenders don't like;-

married couple/sole application

someone who owned the property continuing to live in it after sole remortgage/transfer of equity (Santander).

You should have a couple of options with you gifting your share of the equity to him, but if you have adverse credit and joint accounts, it will be picked up anyway...

sal_III

why don't you try to get AIP in both of your names? costs nothing and more precise than the opinion of internet strangers in a forum.

ACG

As above, possible but limited options.
As a broker, I would not do something like this on. If you divorce and have gifted away your equity, I would not want you knocking on my door blaming me.

I am sure some brokers would do it, I tend to be quite risk averse when taking on customers as it my livelihood at stake.

sheepy21

When you say bad credit, what do you mean? Defaults, debt etc? Or are you referring to a credit score?