Mortgage with Credit Card Debt

ncybernut

Hello, Is it possible to get a new mortgage if one party has credit card debt? We currently have a mortgage of around £100,000. ( In my partners name) With savings of around £60,000. Equity in house would be £240,000. To move to a larger property we would probably need to look at borrowing around £200,000 max. Our joint incomes are £110,000 with property investment annual income of £27,000. No other debt apart from my credit card. Which has a balance of around 10k on 0%

The other issue is my partner does not know about the credit card debt and I absolutely cannot tell him not Atleast until I’ve paid majority off. Would this all be a problem when applying for a new mortgage? Could I explain my credit car desperately to the mortgage broker?
TIA

ncybernut

Sorry meant separately not desperately! 

K_S

@cybernut With income of 110k and borrowing required of 200k, the 10k background debt is unlikely to have a material impact on your chances.

With regard to keeping the debt private - brokers do come across such scenarios occasionaly. I would never commit to a client that one half of the applicant can be kept from knowing the contents of a joint mortgage application. On mine and the lender's end, the data related to the application will be filed jointly.

So two years down the line if you or the joint applicant asks for a copy of the application data, I wouldn't be able to segregate it by applicant. Some brokers even send the application summary to all applicants as a matter of course.

boxer234

With all your savings you could pay the debt off seems a shame you can’t talk to your partner about it.