Remortgage with a secret bank account

kv11x

Next year we will have to remortgage as our deal will have come to a end. My partner is not good with money As she likes to spend anything left over near the end of the month on things that we might need or replace items with better items or even treat herself. Where I'm for clearing our credit card debt them we can treat ourselves. My question is we have a joint account where our wages go in to but I have an old account I'm meant to be closing. if I kept it open under a different address to put some cash so I can save then lump sum it off a credit card one day would this affect our remortgage or be no issue cos it would be under a different address? Cheers

BoGoF

Depends if your addresses are linked on your credit report although having an additional account that isn"t overdrawn is unlikely to be an issue.

However if transfers are being made from your main account to this account then a lender may ask questions. TBH it sounds like the biggest potential barrier to getting a mortgage is your partners spending habits and the credit card debt.

Flatliner27

Would it not just be easier to pay regular into a fixed saver account that you can't touch for 12/24 months and lump sum pay it off that way?


What I'm getting at, is (IMHO) that it's probably best long-term to be open with your partner about this...


The reality is that if you're carrying credit card debt month to month whilst splurging your disposable income down to zero each month you are spending money you don't have.


That'd be my angle anyway

Teamocil

I might be wrong here but I think some building society accounts wouldn't show up on credit reports and such? Like if you opened a local branch account or something.

This can't be unusual. I've read articles saying lots of people who are married keep a secret account in case they want to do a runner in the night.

Lotak

kv11x wrote: »

Next year we will have to remortgage as our deal will have come to a end. My partner is not good with money As she likes to spend anything left over near the end of the month on things that we might need or replace items with better items or even treat herself. Where I'm for clearing our credit card debt them we can treat ourselves. My question is we have a joint account where our wages go in to but I have an old account I'm meant to be closing. if I kept it open under a different address to put some cash so I can save then lump sum it off a credit card one day would this affect our remortgage or be no issue cos it would be under a different address? Cheers

Shouldn't do.
I have a single bank account registered at a different address (simply because the bank can't change it online and I can't be bothered to go to branch) and it hasn't made any difference to being able to remortgage on two occasions.

Think you should be alright.

ACG

Having the bank account should be fine.
Having the bank account at a different address will potentially throw up some questions by an underwriter.

Can you not just get it set up for online statements only?

On a side note, do you not just think your partner will run up a credit card again once cleared?