Joint mortgage question

[deelightful3 10]

If a married couple want to get a mortgage but only one of them is working can both names go onto the mortgate or not ?

[Calahonda 11]

If a married couple want to get a mortgage but only one of them is working can both names go onto the mortgate or not ?

 

Yes, employment status has no bearing on this.

[deelightful3 10]

is this the same with every mortgage lender do you know ? only a friend has been told differently by her husband but didn't know if this was true.

[Calahonda 11]

is this the same with every mortgage lender do you know ? only a friend has been told differently by her husband but didn't know if this was true.

 

She is I presume, on the contract, so must be party to the mortgage, why are you asking, has she got credit problems?

[deelightful3 10]

they have a mortgage in Scotland something that lets them rent out their current property,but they are wanting to sell this and get property back around here and now her husband as told her that the new mortgage they will need to get cant be in her name as well as she doesn't hold a job

[Annie Bynnol 611]

In the days of endowment mortgages, the mortgage was in my name only initially as my partner was a student and we bought the house a month before we married. Changed it a year later to a joint without any fuss or costs.

[barleycorn 10]

It depends, with what income does she intend to repay the mortgage?

[max 13]

they have a mortgage in Scotland something that lets them rent out their current property,but they are wanting to sell this and get property back around here and now her husband as told her that the new mortgage they will need to get cant be in her name as well as she doesn't hold a job

 

Having worked in IT in mortgages for many years I can tell you that there was no such stipulation. It looks like he is planning to leave her.

[Danny_Boy 10]

it's actually the opposite, most lenders would expect a spouse to be on the mortgage regardless of income or employment. A few lenders will even decline the application if a married couple only want one of them on the mortgage. I cannot see a situation (that is not dodgy) where a spouse wouldn't be allowed on the mortgage regardless of their employment situation or income.

[Calahonda 11]

it's actually the opposite, most lenders would expect a spouse to be on the mortgage regardless of income or employment. A few lenders will even decline the application if a married couple only want one of them on the mortgage. I cannot see a situation (that is not dodgy) where a spouse wouldn't be allowed on the mortgage regardless of their employment situation or income.

 

Read this, it is 100% correct.

 

Can you imagine a repossession with one legal occupant not being party to the mortgage? A little knowledge is a dangerous thing, zero knowledge of an important subject is a foolish thing to post on.

Edited March 29, 2018 by Calahonda

[truman 10]

Read this, it is 100% correct.

 

Can you imagine a repossession with one legal occupant not being party to the mortgage? A little knowledge is a dangerous thing, zero knowledge of an important subject is a foolish thing to post on.

 

How would that apply to grown up children still living at home?

[Obelix 11]

How would that apply to grown up children still living at home?

 

They don't have a legal right to live there they have a licence to occupy from the owners (their parents)