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Wife has no credit history. Should I keep her off the remortgage application?
Mule321
Posts: 2 Newbie
Longtime lurker, first time poster. I'm looking to remortgage and have a reasonable credit history. My wife doesn't have any. She moved to the UK 10 years ago and just never had a credit card or loan etc. I understand this puts most mortgage companies off, but she earns well above the national average each year, has been in the same job for several years with permanent contact. Am wondering whether it's best to keep her out of the mortgage application or add her into the mix. Thanks very much in advance and if there's anything I've left out, apologies, please just ask.
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Comments
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It shouldn't make much difference.
If it was a 95% purchase, she had had three jobs and four addresses in the last two years it might have made a difference...I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Does she not have a bank account for her wages? A mobile phone? Utility bills in joint names?
All go towards a credit history.
Ask your wife to sign up to:
MSE credit Club
Credit karma
Clearscore
She can then see what is showing.Mortgage started 2020, aiming to clear 31/12/2029.0 -
She should be included on the mortgage as it will protect the property from being sold should the worst happen to you.0
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Neither me nor my husband had a credit history before we got our mortgage with Nationwide.Mortgage started 2015: £150,000 2016: £130,000 2017: £116,000 2018: £105,000 2019: £88,000 2020: £69,000 2021: £51,195 2023: MORTGAGE FREE!0
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Thanks for the advice everyone. I'll be adding her onto the application then!0
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... and get her to open a credit card in her name and use it occasionally (and pay it off in full each month via DD) so she does get a credit record.
Is she not on any household bills? Rectify that as well.
Best to do it all now whilst she doesnt need it.0
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