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In stress testing the mortgage proposal, it is possible that declaring any additional family outgoings might effect a lender's view of his ability to repay.... He says that with me being a SAHM with children he will be offered less of a mortgage as having dependents, is that true? ...
cant help felling my partner is pulling the wool over my eyes!
This is very politically incorrect but , my advice is get the ring on the finger! If, of course, you feel that you do have a long term future.
mf
When I first went to get a mortgage my other half was not working and we had 2 kids with a third on the way. I went in and was 100 % honest and for every dependent I had the guy knocked about 20k off what I could borrow, so I left there with the guys saying no chance and went to another bank and told them I had no dependents and I could borrow a hell of a lot more, Which I did and now have a very nice house and can make the payments just fine.
Are you working full time or are you classed as a dependent ?
Well that's good for you that you got a house because you told lies. Now if thing go pear shaped for you and you can't afford to pay it. I'll take that you won't becoming on here whingeing about it and looking for sympathy?
Eh well no hopefully I wont be in that situation, my point was that if I had of said I had dependents I would not have been able to get a house which we needed badly si I did what I had to, It was very affordable but the way the bank went about it at the time would have ment Id never own a house.
No your point is that you lied. Like so many. Now I don't care about your lies. I'm just saying that when everything falls to pieces around you head, you will not expect the taxpayer to bail you out.
If you make payments towards the mortgage or the upkeep of the house you will be fine, I think, if ye split up.
Terrible advice! If she contributes to the mortgage and his name is on the mortgage/deeds and they split up, then she would be entitled to exactly nothing.
The best way to get around this would be to draw up an agreement about what happens to the house in the event of a split.
You don't seem to trust him and maybe he doesn't trust you. Maybe you need to have a broader look at the relationship, not just in the context of a mortgage.... Its not that he's suggesting to put me on it, its metrying to be entitled to something really, its not like buying a dog is my veiw!
Untrue - see other related threads and previous posts in this thread.If you make payments towards the mortgage or the upkeep of the house you will be fine, I think, if ye split up....
Terrible advice! If she contributes to the mortgage and his name is on the mortgage/deeds and they split up, then she would be entitled to exactly nothing.
The best way to get around this would be to draw up an agreement about what happens to the house in the event of a split.
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