Get expert opinion. This is the place for new questions to be posted.
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Niobe
- Posts: 5169
- Joined: Tue Jul 03, 2012 9:56 am
- Location:
Hello,
Don't think the mortgage company will let you do that. You would have to prove to them that you could afford the mortgage on your own.
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ianmunday
- Posts: 10
- Joined: Sun May 06, 2012 9:11 am
- Location:
I don't need the credit at the moment, I am trying to think 4 years down the line where I don't have a surplus of cash to replace a 10 year old car, replace already worn carpets in the house. I have only just become aware that my credit rating has been affected, so just trying to find some solutions. But, all end up at the same place at the moment.
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Broke of London
- Posts: 7761
- Joined: Sun Sep 05, 2010 6:04 pm
- Location: United Kingdom
It is difficult with joint finances, particularly a mortgage. But it's worth a try to see if you can take it on yourself...your wife's 'rent' may count as income in addition to your salary. Worth asking!!! There may also be a hitch taking your wife's name off the mortgage if she has the equity clause as a pc of equity will have been pledged to creditors and she could get in trouble for transferring assets. x
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ianmunday
- Posts: 10
- Joined: Sun May 06, 2012 9:11 am
- Location:
I thought this, but I asked her to ask debt free direct and they stated that it won't be an issue. I thought this to be strange because if someone owed me money and they wanted to give away their only asset I'd be a bit miffed. I don't want to go ahead and do this only to find out later we are both in trouble.
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Broke of London
- Posts: 7761
- Joined: Sun Sep 05, 2010 6:04 pm
- Location: United Kingdom
I agree! I would ask for an email or letter direct from my IP confirming that advice!!!
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nomoremoney
- Posts: 186
- Joined: Thu Jun 18, 2009 12:11 pm
- Location:
You see, this is one of those unintended consequences of how innocent party like yourself are affected having had a decent credit rating.It is first I heard of this,been connected to an iva person is bad to your credit health. We all need credit in one form or the other.It sucks I know.......
