Maiden Name & Mortgage

SeMur

I'm hoping someone could give us a quick response on this matter.

We are about to apply for a mortgage with HSBC and decided to check our credit files with Experian and Equifax.

My scores and details are good on Equifax and excellent on Experian. My wife is stable on Equifax and excellent on Experian however she is not showing as being registered on the electoral role with Experian.

We then realised she is still registered on the electoral role under her maiden name.

Will this have a negative impact on our mortgage application? We cant quite understand how Experian haven't been able to identify her as she as been able to get car finance since we have been married and she is showing as being on the electoral roll with Equifax?

If anyone could help it would be greatly appreciated.

Thanks!

S

kingstreet

SeMur wrote: »

Will this have a negative impact on our mortgage application?

Nope. You'll be asked for both maiden and married names at application.

SeMur

Thanks for the reply. We got through to our Electoral office and managed to get everything updated and Experian updated straight away thankfully.

Our other concerns would be on the likelihood of getting approved for a mortgage if you are using some of the house sale profits to pay off unsecured debt? From my calculations our DTI ratio including student loans is 37% and this will go down further by paying off the unsecured debts. Will HSBC include these in the affordability check despite them being paid off before the mortgage kicks in?

[Deleted User]

Yes hsbc will assume you won't repay the debts off (mainly because industry research shows that most people lie)

They dont care about debt to income ratio (although plenty others do). I've not heard of anyone caring about student loan balances though, very few lenders even ask for the balance and the payment is the same regardless of the balance anyway.

So if you are planning to go to HSBC, out your debts in to the calculator as they are just now. If it doesn't hit the number needed, either pay off the debt before application or find a new lender that allows you to declare what the debts on completion will be

SeMur

We actually can pay off one of the debts but I was worried that HSBC might question it being paid off all of a sudden as it will show on our history or will they not care?