Shared ownership / sole applicant

Dm61

Hello!

Looking for some advice really.

For context, my other half (not married) has applied for a shared ownership property in his own name. Everything was going great & mortgage approved in principle as a sole applicant - informed the mortgage broker and the development owners it was 2 tenants under a sole mortgage and they are all fine with it.

Now the mortgage company was to see my proof of income / credit check / bank statements.

For context, I am a recently recovering gambling addict (23 days) with a semi-okay credit score & salary. But the bank statements are meant to cover the last 3 months and they are full of gambling transactions. Everything has moved very quickly I.e we've gone from browsing to this stage within 7 working days as the houses opened for reservation sooner than we thought so it's all abit overwhelming and it's taken me by suprise to be honest!

My question I guess is, do they need this information from me if I am not part of the mortgage application in anyway ie not even contributed to the deposit or can they?

I'm happy to sign the Occupiers consent form, credit check and payslips but I just really don't want to give them by bank statements as I don't want it to jeaopordise the mortgage application. Is this something I can refuse/compromise on?

Any advice would be appreciated!

Thank you.

kingstreet

Who will be named on the title? If it's both of you, you both have to apply for the mortgage.

If you want a sole mortgage, it has to be a sole purchase too.

Many lenders will have an issue with a deposit from a joint source on a sole purchase/mortgage especially if the other party will reside in the property.

Dm61

It's all sole purchase through my partner who has saved for the deposit. I'm just listed as another adult living within the property, not as part of the application. 

I've not contributed in anyway to the deposit. 

They've said it's to check im not dependant on my OHs salary (I'm not, currently working 2 jobs to clear debts)

Just hope my history doesn't impact the process I guess!


kingstreet said:

Who will be named on the title? If it's both of you, you both have to apply for the mortgage.

If you want a sole mortgage, it has to be a sole purchase too.

Many lenders will have an issue with a deposit from a joint source on a sole purchase/mortgage especially if the other party will reside in the property.