Sole/Joint ownership dilemma

nestumkiller

My wife and I just agreed the sale of our maisonette and purchase of a house. Our current mortgage (which is a sole ownership in my name) is with HSBC and there's still 2 years left. We have 2 options in our mind: port mortgage or a new mortgage (either with HSBC). With the latter comes the question whether to put my wife as joint owner of the house. The dilemma lies in: if I go sole she'll probably have to sign a gift document (as she'll be contributing with some savings); if we go joint, although her credit score seems ok (clearscore: 442/700; credit karma: 610/710) she works on temp contracts, has been furloughed a few months ago, went back and now they haven't extended her contract. So, her job situation might not help. Furthermore, we don't need extra borrowing as HSBC already agreed in principle to lend more than what we need (based in the assumption I was the sole applicant)
So, my two questions are:
(a) if I go sole, is there a chance HSBC refuse to lend me if she gifts some money? The amount is barely enough to pay for stamp duty and solicitor's fees, so I was also wondering if paying for those rather than "gifting" the money is an option; or if even this is considered a gift (?)
(b) if we go joint, are our chances lower than me going sole? I have a better credit score, salary and permanent job (albeit have started and January and finished probation in June).
Some views/opinion/clarity on these subjects would be greatly appreciated.

greatcrested

What does your independant mortgage adviser suggest?

My gut reaction is: why would you not jointly own your home with your wife?

And surely, unless she has CCJs or a terrible credit record, what relevance is her employment status? Provided between the two of you, you meet the income requirements of the mortgage being applied for you should be accepted.

But what do I know? I'm not a mortgage broker.

ps - don't get hung upon HSBC just because that's who you are currently with.

nestumkiller

Last time we spoke to one (pre lockdown) he mentioned something about being tricky to get a joint mortgage due to her having been on maternity leave before and not being able to provide a 12-month contract proof.
HSBC has the best rates I've found on the market for our LTV. I'm trying to speak to the advisers again but on the meantime I thought I'd ask here. Thanks. 

Angela_D_3

Obviously you're not planning to get divorced, but if she is earning less and the worst happens it'll be a lot easier alround for you both if she is on that mortgage.

getmore4less

What's the ERC if you move lender

Will they port and move to joint if no change in amount/term?

nestumkiller

The ERC is 2k but I haven't asked if it's possible to port to a joint. Currently have an appointment booked for a sole application for porting, but would like to consider remortgage to avoid tying ourselves to HSBC having w mortgages with different timescales. Do you reckon they'll let us port jointly? My fear is getting an application rejected for trying joint... 

xylophone

But don't HSBC still offer a sole borrower joint proprietor option?
https://forums.moneysavingexpert.com/discussion/5748868/lenders-who-offer-sole-proprietor-joint-borrower-mortgages