fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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Ive been looking at different mortgage sites and they say i can have enough for the house want but if i say i have a wife who dont work they offer pitence. So can i just apply myself and say nothing about the wife or do i have to declare her? Shes a stay at home mum btw so cant just work at the min.
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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You'll have to declare your marital status if they ask which I presume they will. Whilst you could have the mortgage in your name only, they will account for the fact that with being your wife, she has rights over your personal belongings even if she doesn't appear on the interested parties list.
If they don't ask, don't tell them but also don't hide anything as it'll bite you later
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VegasPhil
Premium Member
Registered: 16th Jan 05
Location: Fareham, Hants Drives: Octavia VRS
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You could just get the mortgage in your name. I did for my first place for the same reason as yourself. It does mean she wont appear on the title for the property.
If she has a share of the deposit you could get a deed of trust drawn up by your conveyencer.
Corsa 2.0 16v Vegas - Sold
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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Were you married at the time Phil?
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Edd
Member
Registered: 8th Nov 04
Location: Glasgow
User status: Offline
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As your married the lender will ask about over 17's living in the property. If she is providng money for the deposit most will want her named on the mortgage if she's not the lawyer will get her to sign a document stating she has no right to the property in event of repossession.
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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its not a problem her having a share etc iam putting all the deposit etc and if we split she would have half anyway. its just getting the mortgage. even considered divorcing just to get the mortgage. spoke to an adviser and he said what you have said she will have to be declared
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fred7
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Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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had a "quote" for a mortgage we need want and its £260 a month we are renting now paying £520 so a massive saving a month. i know about other things to do with a mortgage but its half a month
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John
Member
Registered: 30th Jun 03
User status: Offline
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That's very little for a mortgage.
You being happy giving her half doesn't mean the mortgage company will be.
Surprised you can't get a £260 a month mortgage when declaring her, you'd be better posting some figures tbh, or speaking to a lender.
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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Halifax have said they will give me £90k on my own but if i declare the wife they will give me £33 its mental i can understand lower amount but not that much. The house is in a area that use to be rough but fine now and house needs some work thats y its only £60k so would need £54k thanks for the advice
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John
Member
Registered: 30th Jun 03
User status: Offline
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56K over 35 years at 5% is £285 a month. Interest rate any higher would be more obviously.
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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Yeh thats about rite john. But how do i get the £56 i need with my wife? Is it a case divorce and do it like that say iam on my own?
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