PLEASE READ BEFORE POSTING
Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Deposit
Desperatetimes.
Posts: 2 Newbie
My husband and I are currently renting but want to buy. The original plan was to wait until late next year as I have a default on my file from 5 years ago. It was an oversight and for an amount less than £400 but I know I need to wait until next year when it’s cleared.
However, we need to locate across country and would prefer just to buy rather than rent first.
My husband has good credit and will be able to borrow enough to get the mortgage in his own name however the deposit is in Premium bonds in my name.
However, we need to locate across country and would prefer just to buy rather than rent first.
My husband has good credit and will be able to borrow enough to get the mortgage in his own name however the deposit is in Premium bonds in my name.
Is this going to cause an issue. Can I ‘gift’ my husband the deposit or are they going to be concerned that I’m not on the mortgage but still contributing the deposit?
0
Comments
-
I'm not sure having only your souse name as sole owner on the mortgage puts you in such a great position should you ever split up.Desperatetimes. said:My husband and I are currently renting but want to buy. The original plan was to wait until late next year as I have a default on my file from 5 years ago. It was an oversight and for an amount less than £400 but I know I need to wait until next year when it’s cleared.
However, we need to locate across country and would prefer just to buy rather than rent first.
My husband has good credit and will be able to borrow enough to get the mortgage in his own name however the deposit is in Premium bonds in my name.Is this going to cause an issue. Can I ‘gift’ my husband the deposit or are they going to be concerned that I’m not on the mortgage but still contributing the deposit?1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 349K Banking & Borrowing
- 252.4K Reduce Debt & Boost Income
- 452.7K Spending & Discounts
- 241.9K Work, Benefits & Business
- 618.5K Mortgages, Homes & Bills
- 176.1K Life & Family
- 254.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards