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Government first time buyer scheme married sole application

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Hi all.

I was wondering if anyone has been in this situation before. I am married and a stay at home mum, I have a terrible credit rating- I am chipping away at improving it but realistically it will be a few more years to get myself in a good place. My husband has a good credit history and earns 70k pa. 
We are looking at purchasing our first family home and would love to be able to use the government backed 5% deposit scheme. Would this be possible to do in just my husbands name? He has the money to put down the deposit himself and I am more than happy with it being in his name. Apart from utilities we aren’t financially linked as we do not have any joint bank accounts etc. Any advice or experience would be great! Thanks you 

Comments

  • K_S
    K_S Posts: 6,879 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    edited 26 December 2020 at 2:49PM
    Assuming that you're taking about the Help 2 Buy scheme, the criteria includes the requirement that "Applications made by anyone that is married or in a civil partnership will need a joint application with their spouse or civil partner."

    I am a Mortgage Adviser - 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.

  • kingstreet
    kingstreet Posts: 39,256 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    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.
  • I've just had my application rejected because we applied in my name only. We're in the same situation as you. My husband has poor credit history so we're wanting to apply for mortage and loan in my name only. However it looks like they have just changed the rules and with the new scheme married couples must apply together. 
  • kingstreet
    kingstreet Posts: 39,256 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    That is correct.
    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.
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