Waiting for approval single mortgage partner bad credit score

[Deleted User]

So we are currently waiting to see if NatWest approve a mortgage application after applying last tiesday. My husband has applied for a mortgage by himself, but I will be living there too. I am self employed, and have a debt of about 2300 - which I have transferred to a 0% interest card and will pay almost half of with January's pay. We have a joint bank account meaning we are financially linked and I will also be putting some money towards the deposit. I have signed a letter to say it s a gift and I don't want it back.

I know that due to being financially linked they could decline because of me, I get that. My credit score is fair, but I've never missed a payment in anything the only thing showing up is that I've used 2300 of my 2500 limit. My friend told me when she applied they called her and questioned her about things on her credit card etc, i just wondered if they would still do that even though im not on the mortgage? I was also wondering if they accept with conditions, what sort of conditions could be offered?

ACG

At this stage I would say you are fine.
In 2018 we sent a lot of mortgages to natwest, once the DIP had been agreed, we never had an application declined (although brokers DIPs are more accurate than going direct I believe?).

The worst we had was one mortgage reduced by a couple of grand from memory because of a Loan to value quirk.

[Deleted User]

Thank you that's very reassuring to hear!

Thrugelmir

Deleted_User wrote: »

I will also be putting some money towards the deposit. I have signed a letter to say it s a gift and I don't want it back.

The letter is irrelevant. As you are married. The money you are contributing gives you, in law, a financial interest in the property. Something the lender may well have concerns with.

[Deleted User]

The valuation was done yesterday and now they're asking for details of the joint back account. I'm self employed and had a bit of a rough time of it over Xmas so now I'm nervous. We both put money into the joint and our bills all come out of there but we usually put more than needed in there. I used some of it over Xmas could this affect it? I'm just stressing 😫🤦🏼!♀️

ACG

If you were not bouncing Direct debits it should be fine.

[Deleted User]

No we weren't. We've ALWAYS paid our bills on time. Thanks for your response!

[Deleted User]

They offered us £15,000 less than we need

Are now trying again with Nationwide and hoping the sellers don't mind waiting longer.

[Deleted User]

Because my partners pay fluctuates due to commission, even though he went for them because they said they'd take into consideration 100% of his commissions and bonuses