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mortgage affordibility question


lottiesnan
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My boyfriend is in the process of buying a house and had a mortgage offer that is currently with the underwriters. All was going well .

 

But today his financial adviser called him to tell him if I was to be living with him they would reduce the mortgage offer considerably as I am not currantly working... affordability issues.

 

 

I was made redundant 3 months ago and I am currently going through the process of becoming a foster parent.

 

 

 

 

I have my own property and my boyfriend moved in with me while his house sale was going through and I was going to give this place up and move in with him and foster as planned but this has thrown a spanner in the works.

 

 

We have no other choice but tell the mortgage company that my partner will live at his new house by himself.

Obviously when he has the keys we can do as we please.

 

 

What I don't understand is... the new house is 50 miles from my currant location and so even if I was in work here I would have to leave as I wouldn't travel 100 round trip everyday.

How on earth does this work...

Im confused and worried that my partner will have his mortgage offer withdrawn because of me

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That is bizarre - surely even if you aren't working you will at least be contributing something toward costs ? How does your not working and living with your BF cause any problems for the mortgage company if they are prepared to offer him a mortgage with him living on his own ? With still only one salary being used ?

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1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

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4: Staying Calm About Debt  Read Here

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2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

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5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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I thought It very strange as well...But they were clear that the original mortgage offer of 70,000 would be reduced to 48,000 if I was living with him and not employed...?

 

 

It isn't a joint mortgage and I just don't get it.

I have searched on google about all the new hoops you have to jump through to get mortgages now but nothing like we have encountered..

 

 

I am guessing they think he will have to provide for me and this isn't the case at all...I would work when i moved and foster when I am approved.

 

 

The financial adviser suggested he just say he is single and living alone and not rock the boat...

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Just a thought, have you checked your credit files to ensure that there is no adverse data being recorded - it isn't unknown for identity breaches that cause people some problems.

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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My partner received a letter from the building society today with a letter and a form for him to sign and return....

 

 

Declaration of intent to reside /sole residency

 

 

And a warning that if they found out that there was another occupant residing at the property within 6 months they would take proceeding for fraud...They will be conducting a credit search on him for that time..

 

 

I shall have to keep everything in my name at my place and stay on the electoral register etc until the 6 months are up...

I have never heard of anything like this before...

 

 

Our lives are effectively on hold for 6 months...

No I checked and no credit search has been done on me ...

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Who is the Mortgage company.. private message me the name if you are worried about putting it on the forum.

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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