Mortgage Problem Question

Could anyone give me a little advice on the below

I am applying for a mortgage with my partner we have a 5+ acre site and at least half the build cost. Our loan to value would be somewhere in region of 20% loan to 80% value, the opposite of most. (only borrowing about 50k)

Between the both of us we earn 100k before tax.

The main issue is my credit history was very badly affected during the aftermath of the boom! Never defaulted on a penny put some debt was written down by the bank but it has been paid back in full.

My partner could borrow at least double the amount required but the thing is I have to put my name on the borrowing as well.

Even though she qualifies for double the amount required on her own, one institution said once I put my name on the application its a definate No.

Any advice on getting my name on a Joint borrowing.

I know it would be easy to say just borrow in your partners name but the politics of life won't allow this at the moment!

eoin said:

The main issue is my credit history was very badly affected during the aftermath of the boom! Never defaulted on a penny put some debt was written down by the bank but it has been paid back in ful

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Which is it you paid it back in full or you paid back a portion of what you owed in full. This is key.

Actually there is a about 2k left which will be cleared in March, paid back the full amount borrowed + the extra interest penalties imposed as well.

Then you should have no problems.

What does your ICB show?

eoin said:

Actually there is a about 2k left which will be cleared in March, paid back the full amount borrowed + the extra interest penalties imposed as well.

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This makes no sense in a situation where you have so much in savings?

Hi

When I say we have half the build cost in savings: this is true but "we" as combined = herself with the full half of build cost. Which leaves me to borrow the 50k balance required, which I know I cannot do on my own due to credit history; so without a joint application its a no go.

At the moment I'm paying back double the cost of what the mortgage would be in just loan repayments not to mind triple the amount in rent. All of which would be gone by the time I would begin paying back a cent of the mortgage repayments.

ICB shows missed payment on loans. Won't actually need to draw down from the bank till August/September.