Mortgage approval revoked due to marriage

C

cmyk

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Wasn't sure how to title this, but here's a little background. In March my then girlfriend applied for a mortgage for 130k, we used a broker, and between him and the bank completely messed up the timelines, taking a massive 7months to get us to loan offer stage.

We have since been married and the loan offer finally came through on our honeymoon. However, she then told the solicitor her marital status had changed and they have now pulled the mortgage approval due to my situation.

(Mortgage of 260k on a property I bought in 2007). No missed re-payments and good credit history. My property has just reverted to a tracker from a high fixed rate for the last 5yrs, meaning re-payments have now become a lot more affordable. Living in my apartment hasn't been feasible for the last couple of years due to work transport and we are also looking for a house.

Our solicitors have both said that the banks should allow the loan go through on the grounds that the house will be in her name (as the application was made in her name?). Can anyone shed some light on this. Can she start the process over again as married?
 
cmyk said:
on the grounds that the house will be in her name (as the application was made in her name?).
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Dont think this is possible if you are now married

Youll probably have to apply again. Would you get approval for €390k on your joint income?
 
Probably won't work as most banks insist on family home mortgage being in joint names especially if you are married. Unfortunately it will be underwritten again based on the new situation of both your incomes and your existing commitments.
 
Hi,

Unfortunately have experienced the same thing, really wished we had done this before we got married. The banks have advised us once you are married any property bought together is deemed to be a family home and both names need to be on the mortgages. So both incomes and commitments are considered.
 
Thanks folks, the plan (obviously applying way back in March) was that this would go through well in good time before a September wedding.

I had thought it would obviously be dependent on both situations which makes sense, needless to say we're furious with the broker.

Anyone know if ulster bank have any plans to introduce 'trade-up' mortgages?
 
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