Am I obliged to declare my unmarried partner on a single mortgage application?

juliushibert

First time buyer, if I apply for a mortgage in my name only but my partner lives with me in the property, am I obliged to tell the mortgage broker/lender? Will most high street lenders and brokers suffice or do I need to find a specialist? We're not married, don't have children and have no intention to do either. 

My partner and I have previously been declined a mortgage due to my partner having poor credit history issues. They had a number of late payments and defaults 18-24 months ago. But since then, they've had a clean and consistent record of payment.

I'm in a position were I have a large enough deposit and income on my side alone to be able to qualify affordability checks to cover the size of mortgage we'd need in the purchase bracket we're considering. Hence why we're considering a single mortgage application rather than waiting for a number of years before the mark fall of my partner credit history.

After researching, I can see that a single mortgage application with a co-habitant can create issues and confusion as to who owns what, etc. We would draw up a co-habitation agreement once an offer had been accepted that would reflect my contribution to provide a deposit. But we would split the mortgage repayments 50/50 and agree a period of time to move out of the property should the relationship end. We want to make it as fair as possible, provide protection and guidance should things change in the future. 

csgohan4

answer questions truthfully. Credit checks on you may reveal linked accounts or financial links with your partner

Thrugelmir

Your partner will be required to complete an Occupier Consent Form. This waives away certain residents rights in the property in favour of the lender. The lender will likewise check that the deposit comes from sole rather than joint monies. 

kingstreet

If you have no joint accounts you may wish to do a disassociation with the credit reference agencies as a joint credit check for a mortgage will have caused an association on your credit histories.

You can apply singly without your partner but be careful as a deposit from a joint source or gift may be problematic.

juliushibert

To clarify, there are no joint accounts and the deposit monies is funded from myself alone. 

The rest of the info makes sense. Thank you for the advice.