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Applying for a mortgage..

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Hi,
Just after some advice please. I am looking to purchase a property for me & my husband (currently we live with my parents). However, I already have a joint mortgage with my ex husband. My ex cannot take over the mortgage himself due to lenders affordability criteria, but he is paying the mortgage himself & has been for the past 2 years.

My question is when I check my credit report the mortgage with my ex does not appear on there for some reason (not sure why) my broker has advised not to declare this when applying for a new mortgage as it will reduce my affordability - is this ok? I don't want to get in to any sort of trouble for not declaring it! I do understand i am joint & severally liable to pay if he defaults etc but the ex is due a promotion soon so once that happens he will be in a position to take the mortgage over himself but until then my name will have to remain. 

Any advice will be appreciated.

Thanks


Replies

  • kingstreetkingstreet Forumite
    36.4K posts
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    You should declare the mortgage. Anything else is deception and unacceptable.
    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.
  • RB2000RB2000 Forumite
    3 posts
    First Post
    You should declare the mortgage. Anything else is deception and unacceptable.
    Well that's what I thought! Anyhow do you know why my mortgage isn't showing on my credit report & how I go about updating it? Never had to do this before.
  • MovingForwardsMovingForwards Forumite
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    RB2000 said:
    You should declare the mortgage. Anything else is deception and unacceptable.
    Well that's what I thought! Anyhow do you know why my mortgage isn't showing on my credit report & how I go about updating it? Never had to do this before.

    Have you checked all 3 credit companies as not all lenders report to each credit reference agency.
  • RB2000RB2000 Forumite
    3 posts
    First Post
    RB2000 said:
    You should declare the mortgage. Anything else is deception and unacceptable.
    Well that's what I thought! Anyhow do you know why my mortgage isn't showing on my credit report & how I go about updating it? Never had to do this before.

    Have you checked all 3 credit companies as not all lenders report to each credit reference agency.
    I checked Credit Karma, TransUnion & Experian and not showing on any! 
  • vixelitevixelite Forumite
    41 posts
    Tenth Anniversary 10 Posts Name Dropper Combo Breaker
    Credit Karma is Transunion, there is also Equifax 
  • SistergoldSistergold Forumite
    431 posts
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    It might be because you live elsewhere and so this causes discrepancies on your credit records and so do does not show the mortgage. When I bought my house I forgot to update my address on Experian and so mortgage did not show. Few weeks ago I updated and mortgage showed up on my report. 
    I think if you are in a secure job it’s best to wait for your ex to get his promotion get off the mortgage then buy without having to lie to new lender. Alternatively ex should sell house and free you up and get another house when or where he can afford or is he with the children? If children involved then you would want to be more patient I guess. 
    Good luck. 
    Initial mortgage balance £487500,
    Mortgage start date first week of July 2019,
    Mortgage term 23yrs(end of June 2042🙇🏽‍♀️), 
    That’s 8418 days 😒
    Mortgage payments 13 out of 276
    Target is to pay it off in 10years(by 2030🥳). 
    MFW start April 2020 mfw#136
    £12K in 2020 challenge #148
    To save £100K in 48months start 01/07/2020 @£9000SoFar
    Am a single mom of 4. 
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