Joint mortgage application - one good / one bad credit history

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PatrickDub

Registered User
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I was wondering, if two people apply for a mortgage together for the first time whereby one has approx E130k in savings and an excellent ICB report and no outstanding debt (having just sold their house), and the other has some c/card and personal loan debt along with a couple of investment mortgages but with one or two missed payments (but no arrears) over the past year or so, does the "weaker" applicant in the joint application scupper the whole thing?

The stronger applicant is a public servant on approx E60k per year. The "weaker" applicant earns E45k a year private sector (job secure) plus rental income covering both investment mortgages easily.

The couple are considering buying a home together.

Thank you
 
Is there a possibility of the one with bad CH of selling one of their investment properties that may not be in neg equity so as to bring more funds to the table.
 
but could someone tell me if marriage is off the cards for me as partners very bad credit history will prevent us getting a mortgage
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Not sure if Im reading this right, but are you asking should you not get married on the basis of your partners credit history ?
 
Hi Darko,

it's a tough one to give advice on but basically in terms of a mortgage application, yes it would be better to apply by yourself now rather than when you're married. Once you're married your husband will have to be on the mortgage application and therefore, because of his financial history, it will mean a decline from the lenders. Of course it depends on how bad your partner's financial history is. Has he done a credit check on himself ? At least then you'll know exactly what the lenders can see. If his credit check is clear of missed payments then he'll be fine. It's probably best to get one done first before you shelve the wedding plans. It can be done on line for €6. Go to icb.ie

If you need any more advice, give me a mail.

Cheers
 
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