Joint mortgage not possible - any advice

sso3es

Hello,

my partner has a mortgage in her name only because of my bad debt and credit history.

I appreciate that my income cannot be utilised to increase her borrowing, but is there any legal legitimate way where we can use my income to bolster her borrowing capability?

we have moved our nursery bill into my name so that never comes out of her bank, likewise we have paid off every single credit card, loan, car finance and overdraft that’s in her name so now she only pays standard bills and her mortgage.

ive heard something about how I could get a legal document drawn up confirming I would give her £2,000 a month in child maintenance, that way, when I give her £2000 a month via bank transfer, lenders can actually use that and class it as income.

any idea or advice would be well received! Cheers 

Owleyes00

I think people would benefit knowing a bit more about your debt and credit history. There are some knowledgable people on here who may know of options where you could also be included. I assume you have spoken to a broker?

Caz3121

sso3es said:

ive heard something about how I could get a legal document drawn up confirming I would give her £2,000 a month in child maintenance, that way, when I give her £2000 a month via bank transfer, lenders can actually use that and class it as income.

is the £2,000 per month as per CMS calculations? how long have you been paying this for? (some lenders will only include child maintenance if they can evidence on x months bank statements and it is under court order or CMS) are you going to be living in the property with your partner and child? 

Thrugelmir

sso3es said:

we have moved our nursery bill into my name so that never comes out of her bank, likewise we have paid off every single credit card, loan, car finance and overdraft that’s in her name so now she only pays standard bills and her mortgage.

What's left in your name? 

sso3es

So I currently send her £2000 a month and she pays all the bills and all our spends. I’ve been sending her between 1300 and 2000 regularly for about 5 years now but to stress, this is not child maintenance, this is just me giving her my wages. I keep the rest of my wages for my personal spends but all family money comes through her account. 

From now on, I was going to pay the nursery bill so that’s ones less thing coming out of her account that might look favourable on a mortgage offer.

I would continue to live there- like I said, this is just me asking whether the money I give her each way can in any way be legally seen as her income…..because obviously as it stands right now, a lender cannot consider my regular payments to her as income and therefore it has no impact on how big a mortgage she can get. 

Cheers 

Pixie5740

sso3es said:

Hello,

my partner has a mortgage in her name only because of my bad debt and credit history.

I appreciate that my income cannot be utilised to increase her borrowing, but is there any legal legitimate way where we can use my income to bolster her borrowing capability?

we have moved our nursery bill into my name so that never comes out of her bank, likewise we have paid off every single credit card, loan, car finance and overdraft that’s in her name so now she only pays standard bills and her mortgage.

ive heard something about how I could get a legal document drawn up confirming I would give her £2,000 a month in child maintenance, that way, when I give her £2000 a month via bank transfer, lenders can actually use that and class it as income.

any idea or advice would be well received! Cheers 

sso3es said:

So I currently send her £2000 a month and she pays all the bills and all our spends. I’ve been sending her between 1300 and 2000 regularly for about 5 years now but to stress, this is not child maintenance, this is just me giving her my wages. I keep the rest of my wages for my personal spends but all family money comes through her account. 

From now on, I was going to pay the nursery bill so that’s ones less thing coming out of her account that might look favourable on a mortgage offer.

I would continue to live there- like I said, this is just me asking whether the money I give her each way can in any way be legally seen as her income…..because obviously as it stands right now, a lender cannot consider my regular payments to her as income and therefore it has no impact on how big a mortgage she can get. 

Cheers 

In that case no the £2000 is not child maintenance and it’s not income for her. 

Have the pair of you spoken with a mortgage broker to check that you definitely cannot be on the mortgage? 

Pixie5740

You had CCJ on your credit file back in 2014. Surely those are no longer showing on your credit files as it has been over 6 years. 

https://forums.moneysavingexpert.com/discussion/4930516/mortgage-decline-due-to-financial-link-with-me/

Sistergold

Pixie5740 said:

You had CCJ on your credit file back in 2014. Surely those are no longer showing on your credit files as it has been over 6 years. 

https://forums.moneysavingexpert.com/discussion/4930516/mortgage-decline-due-to-financial-link-with-me/

So since 2014 financial standing has not changed in order to allow OP to borrow?