Shop around

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gotsomenow

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Just thought I'd write a note to those going for a mortgage that might have had some difficulties. I wanted to go on the mortgage without my husband, and the first place I contacted one broker and they said, no way, not possible, no bank will do that. Then I went to another bbroker and he sorted everything out, nothing was impossible. In fact there was only one bank that said they couldn't!

So if you get told no somewhere like I was, go somewhere else.

G
 
I wanted to go on the mortgage without my husband, and ... (first broker) said, no way, not possible, no bank will do that.
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No bank will do what?

Do you mean no bank would entertain a mortgage for you without your husband's name being on the mortgage (consent?!) or do you mean no bank would see your own income being high enough to qualify for the mortgage size/terms you sought?

What mortgage did you end up with through the other broker?
 
I was told by the first broker that there is no way any bank would consider giving me a mortgage without my husband on the title/deeds/mortgage.

I didn't want him on the application and luckily I went on to ask around different places.
 
Can you clarify as in what case you made for yourself ?
 
2Pack, where did that come from. I explained the full situation to the first broker, and I don't feel it necessary to disclose such information here, as I was only saying to future home buyers to shop around if you are told something some place.

The rest is none of your business - Thank you!
 
gotsomenow said:
I explained the full situation to <deleted>, and I don't feel it necessary to disclose such informtion here, as I was only saying to future home buyers to shop around if you are told something some place.
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You are doing a sales pitch for one crowd and a hatchet job on another without explaining anything .

I am entitled to suspect that there is some shilling going on

Are you still married by any chance, I would dearly love a strong silent wife you see. :D
 
Sorry if I'm a bit naive on this one, but why would you NOT want your husband on your mortgage? :confused:

I found the first broker to be extremely helpful, they went to at least 6 banks for me, so I don't think its their fault, must have been some criteria you weren't meeting with them.
 
gotsomenow obviously has some reason or other for not wanting her husband on the mortgage. There could be any number of reasonable explanations for this but I don't see how that has anything to do with us. The point she was making was a valid one - just because one bank/broker tells you that you don't meet their criteria you shouldn't give up. Shop around.
 
i thought the whole purpose of this forum is to help each other with information and circumstances in getting mortgages. thought those questions from 2pack were valid questions, nobody here is interested in your identity just the details of your situation so other people maybe in a similar position can learn from it.

no need to get offended gotsomenow
 
Hel_n said:
To be fair some of the comments were a bit personal...
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To be equally fair neither broker should have been named at all and the advice should have been in general terms with some idea for the readers as to why the circumstances were considered inopportune for a mortgage .
 
Hi gotsomenow,
I got a mortgage without my husbands name no problems. Why did the first broker feel it was not an option for you? Was it that without his salary they felt you didnt qualify on yours alone?

Either way, its always good to shop around.
 
gotsomenow - I have to agree with 2pack's general gist that you really need to clarify the situation a little more (no need to divulge much personal details to explain the situation) if you are going to recommend one broker in favour of another. In the general case there is no reason why one spouse cannot buy a property solely in their own name. The Family Home Protection Act provides for certain statutory rights and obligations in relation to the family home though. Also obviously other details such as each spouse's income and perhaps the status of the relationship (e.g. married, separated, divorced/divorcing) may be taken into account when assessing a mortgage application. I would be surprised if the first brokerstated that in absolutely no circumstances would a lender offer a mortgage to one spouse to buy a property solely in their own name so can only assume that there is adidtional relevant information missing from your description of the situation. Maybe you can fill in the blanks?
 
Thanks for the replies, I have edited my original post, because my idea was to pass on some useful advice and not sell or put down companies.

I don't wish to go into other details, but I am buying our first home on my own because my husband cannot be considered. I meet all the criteria to qualify for a mortgage. All my husband had to do was sign a waiver with a solicitor to say he had no part in the house.

Thanks all who understood.
 
gotsomenow said:
All my husband had to do was sign a waiver with a solicitor to say he had no part in the house.
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If this is a joint/married PPR that you're buying then surely, under the [broken link removed], this waiver has no legal standing? What rights did your solicitor claim were being waived here?
I am buying our first home on my own because my husband cannot be considered.
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I don't understand this but I guess you don't want to clarify?
 
Most lenders don't like one only spouse being the owner of the family home, where its mortgaged to them but technically there is no reason why you cannot have one spouse only on the deeds and on the mortgage. In fact until relatively recently ( and even after the 1976 FHPAct came in) it would have been the norm for the husband to be the sole owner. The FHP Act defines a family home as ( in broad terms) a property within which a married couple ordinarily reside. It states that a family home ( even if in one name only) cannot be sold or mortgaged without the consent of the non owning spouse. So in this case, spouse consents to the mortgage.

Lenders would prefer if both owned and both mortgaged because its harder for an owning spouse to say -I didn't know, I didn't sign etc.,etc - if they have to repossess.

mf
 
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