ReMortgage - Second Applicant £0 Income?

BigZed_2

I am about to start looking for a re-mortgage. Don't currently have one just now, but need to raise funds for home improvments. Looking to borrow £50,000. My partner is a self-employed builder, and his accountant that prepares his books is rather slow in getting the paperwork together.

As both our names are on the title deeds, can I apply for a joint mortgage but have second applicant as £0 income? I earn 25K so no need for his income to be taking into account.

All advice gratefully received.

BigZed_2

Should have said that house is valued at £300k, and have no loans, etc going out. I know I can get partner removed from deeds, but bit extreme!

silvercar

I would write his income on the application form. In the "any other info" bit, just write that the second applicant is self-employed and his accountant will take longer to provide info than your salary ref so you hope they will be able to make the mortgage decision based on your info alone. I had similar and they didn't even credit check second applicant.

herbiesjp

Put his income down - although you can get it agreed just on the basis of your own income, so no problems at all

Qual123

surely you will be self cert anyway, LTV of 16-17% i dont see any problems, just enter it in any other info.

homer_j_3

Qual123 - why would they be self cert? Are you a newbie broker?

The applicant can do it on full status as there is an income there that can be proven and should be acceptable by most lenders as sufficient income to manage the repayments.

As stated above, you just put the self employed person as the 2nd applicant and ensure that they are marked as self employed with no accounts.

herbiesjp

Absolutely no reason whatsoever to self cert

BigZed_2

Most helpful, thanks very much.

Did a credit check on other half and he has a few missed credit card payments, tut tut. If I say this to the mortgage provider, and ask them to not include him in a credit check, do any of you brokers out there think they will take notice of me, or run a check on him anyway?

I'm just trying to avoid beng told he isn't able to borrow or at least look as though he is able to contribute., when I know this already but can afford it on my own.

Thanks again!