Joint mortgage advice needed 1 December 2022 at 9:40AM in Mortgages & endowments 2 replies 293 views

NatP87

Hi,

I was just wondering if I could get some advice. I currently live in my partners house and we want to move. He is very good with money and I am not. He has a lot of savings where as all I have to my name is £2,000 of debt. 

We are looking at getting a joint mortgage but I'm really worried about how I'm going to look and if I'm going to affect whether we can get a mortgage. We have a mortgage broker and I have been stress tested, there doesn't seem to be any issues so far

I received some money from my family to help pay off my debts in July, would this be questioned by the mortgage lender? Or do they only look into that when the money has gone towards a deposit? 

We have a child and I know it would be beneficial to get a mortgage, if I didn't go on with him then I would still be paying money to him, I just wouldn't be on the deeds.
I just feel like I'm taking advantage and that I should probably wait until I've sorted myself out financially. 

Any advice would be really appreciated 

Thanks 

kingstreet

NatP87 said:

Hi,

I was just wondering if I could get some advice. I currently live in my partners house and we want to move. He is very good with money and I am not. He has a lot of savings where as all I have to my name is £2,000 of debt. 

We are looking at getting a joint mortgage but I'm really worried about how I'm going to look and if I'm going to affect whether we can get a mortgage. We have a mortgage broker and I have been stress tested, there doesn't seem to be any issues so far

I received some money from my family to help pay off my debts in July, would this be questioned by the mortgage lender? Or do they only look into that when the money has gone towards a deposit? 

We have a child and I know it would be beneficial to get a mortgage, if I didn't go on with him then I would still be paying money to him, I just wouldn't be on the deeds.
I just feel like I'm taking advantage and that I should probably wait until I've sorted myself out financially. 

Any advice would be really appreciated 

Thanks 

No.

Do you have any specific questions/issues? If you have a broker they are best-placed to advise you. On the face of it, you appear completely normal.

RML5

Hello - I would be careful with this depending on who your lender will be - please see the below forum post that I have just added as my partner and I are in a similar situation... Knowing what I know now, I would never have "tested the water" to see if my partner and I could buy together, I would've done everything on my own and he would've just contributed to the bills etc. until his credit rating was in a better position.

Declined mortgage due to partner with whom I have no financial association — MoneySavingExpert Forum