Joint mortgage now debt free ...

sad_gills_fan

To try to cut a long story short ... my partner was in debt to the tune of approx £30k when he left his wife 5 years ago. He met me, I made him sell the house (with her in it), contact every company and agree a final amount to pay. He paid everything with the profit from the house, her debts, his debts and joint ones too.

Now, 3 years down the line, still debt free, HSBC bank account with Switch card all ok, no loans or credit cards to his name .. we would like to take out a joint mortgage. I have had a personal mortgage for 5 years but in 9 months time, the special offer period stops and I'm able to swap companies or rates which would benefit us as a couple. Instead of doing this on my own though, I would like to add him to it as he has now proved to himself that money can be controlled.

So, my question is .. how long do you think he would have to be debt free for the banks/building societies to look favourable on him?
Would it make a difference if he's never got divorced .. so bloomin expensive we never bothered with it ... (she has lived with other partner for 4 years now, same as me with him).

What do you think? Will they let him on my mortgage or not?
Thanks for any advice.

Sad Gills Fan

ManAtHome

I'd get some legal advice about OH still being married - could cause all sorts of complications in future.

mparter

It also depends on what you actually mean by "in debt"?

Just having a mortgage put's you in debt. If he had loans, HP, etc and was up-to-date on the payments when he settled the accounts, then it should be pretty straightforward.

If, on the other hand, he had defaults, CCJ's, etc. He should get a copy of his credit files and ensure that everything has been marked as settled and there are no anomolies.

sad_gills_fan

Thanks everyone .. I may check out having a mortgage with our bank if it helps.

BTW, solicitors divorce payments are now saved up so that will be going thru soon .. I'm in the wrong business if they can charge that much just for drawing up a piece of paper !!

Thanks again

Ember999

sad_gills_fan wrote:

To try to cut a long story short ... my partner was in debt to the tune of approx £30k when he left his wife 5 years ago. He met me, I made him sell the house (with her in it), contact every company and agree a final amount to pay. He paid everything with the profit from the house, her debts, his debts and joint ones too.

Now, 3 years down the line, still debt free, HSBC bank account with Switch card all ok, no loans or credit cards to his name .. we would like to take out a joint mortgage. I have had a personal mortgage for 5 years but in 9 months time, the special offer period stops and I'm able to swap companies or rates which would benefit us as a couple. Instead of doing this on my own though, I would like to add him to it as he has now proved to himself that money can be controlled.

So, my question is .. how long do you think he would have to be debt free for the banks/building societies to look favourable on him?
Would it make a difference if he's never got divorced .. so bloomin expensive we never bothered with it ... (she has lived with other partner for 4 years now, same as me with him).

What do you think? Will they let him on my mortgage or not?
Thanks for any advice.

Sad Gills Fan

Not in any way will they allow a partner who is still married to someone else on to a joint mortgage with you. Reason is : wife/husband of your partner would have sitting tennant rights, financial rights etc. to the property even though they don't live there nor contribute to the mortgage etc. This is fact. He will have to get divorced before you can put him on the mortgage. All single parties in a mortgage have to sign an affidavit to confirm legally they are not married for this very reason. Anyone who gets a mortgage when single has to do this. Only people married to each other allowed on joint mortgage.

Ember xx