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Mortgage in one name

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Guest

13/01/2021 - 11:34 am

i about 10 months time I will be looking to buy a property with a 15% deposit.the problem I have is that my husbands credit rating is shocking after using loans and credit cards to help his business that eventually went into liquidation.should I open my own current account to show I can afford to pay all my bills and have enough to afford the mortgage which will be in my name only.one other thing is I defaulted on a credit card 10 years ago and have been paying a small payment since then although this is not showing on any credit check and they have lost the credit agreement,should I include this on the application

Guest

13/01/2021 - 11:48 am

Hi,

As you have realised, many lenders won’t accept spouses not both being party to any applications.

There are some lenders that are happy with this scenario though and you have a run up to the purchase.

Best of luck

Guest

13/01/2021 - 11:49 am

thanks for your reply,would you advise using a broker with access to these lenders and I would be grateful for any advice on if I should open my own current account

Guest

13/01/2021 - 11:49 am

You don’t necessarily have to open a separate bank account as some lenders are happy with sole applicants when married.

Obviously we would always suggest a broker would be prudent, but ultimately that would be your call

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