Looking to move - partner poor financial history

jaks101

Hi,


We are looking to move to a property in the region of £375k

After selling our current home we are hoping to have around £150k in equity

So looking for a mortgage at approx £225k

I currently earn approx £47k a year and my partner approx 42k

Our debts are minimal, owing approx 5k on a car loan.


This issue is my partner had a mortgage a few years back and when she was selling the house it completed later than anticipated and for some reason that I can’t fathom she cancelled the direct debit and just rang up and paid for the last 3 months. She can’t remember if they were late but they are showing as late payments on her credit report. I feel this will really affect us. Also she had a debt management plan for a stupid catalogue debt in 2014 this has been “partially satisfied” it doesn’t show on Experian but does on call credit.

So my question is,

Am I better applying myself as we are not currently linked financially as the current mortgage is in my name.

Is the salary to mortgage ratio too much, I’m currently with RBS and without ringing up it seems the most they will lend me is £206k on a 25 year mortgage through their online calculator.

Ideally I’d like us to apply together but feel it may scupper our chances and link me with my partner on credit file this stopping me subsequently applying myself.

I have children so 3 dependants also.

ACG

There will be lenders where it will probably fit affordability solely in your name.
There are lenders where it will fit jointly, should be at normal rates I would have thought, but no matter which route you go down, you will not have the pick of the lenders, if your preference is to do it jointly then it should be possible but I would suggest a broker.

butterflybook

As ACG has said, jointly is likely to be possible but you will need to assistance of a broker to find the right lender for you