Married-Can I get mortgage in my own name?

[Damuint]

I am married, my husband is self employed and business is up and down. I earn 90k and we have 3 children, could I get a mortgage in my own name?

 

[Dave Vanian]

If you're looking for a mortgage to buy a home for yourselves, then no. Irish law grants your husband certain legal rights in respect of a family home, regardless of whether or not he's named on the property or mortgage, so lenders will insist that he's on the mortgage.

For self-employed people, lenders take an average of 2 or 3 years' income into account, so even if his income is up and down, it might still count for something on average. Have a chat with a mortgage broker.

 

[misemoi]

I think having him on the mortgage would be better, it would increase what you can borrow and also does it stop them including him as a dependent which would reduce your affordability?

 

[Monbretia]

You are probably going to have to put him on the mortgage regardless of income, banks in general won't do family home mortgage to one party only. Are his figures awful bad or is there bad credit rating? Bad figures wouldn't be as important as bad credit, he will probably be considered a dependent so you will have 3 children and one adult dependent so that will reduce your borrowing capacity even with your income. If he just doesn't have the required years accounts yet they may just insist on him on the mortgage but ignore his income, again affecting your borrowing capacity.