Hi
I already have a mortgage (shared ownership) with my local authority. It is just in my name. I have a bad credit history that has stayed with me untill just recently when I finally manged to pay off existing debts.
My partner and I have now located an excellent property that we want to purchase and I will sell my house to help with the finance.
Initially my partner was going to get the new mortgage (as I have bad credit) and both our names would be on the deeds of the new property but I have now been told by a solicitor that you can't have one name on the mortgage and two names on the deeds....
Our other option is for both if us to apply for the new mortgage...but with my bad credit is that going to affect the repayments even though my partner has a perfect credit history?? I will also be waiting for my house to sell.
I should mention also that my partner is self employed and works for cash so the lender would be probably START mortgages?
Any advice????
Thanks in advance...
I already have a mortgage (shared ownership) with my local authority. It is just in my name. I have a bad credit history that has stayed with me untill just recently when I finally manged to pay off existing debts.
My partner and I have now located an excellent property that we want to purchase and I will sell my house to help with the finance.
Initially my partner was going to get the new mortgage (as I have bad credit) and both our names would be on the deeds of the new property but I have now been told by a solicitor that you can't have one name on the mortgage and two names on the deeds....
Our other option is for both if us to apply for the new mortgage...but with my bad credit is that going to affect the repayments even though my partner has a perfect credit history?? I will also be waiting for my house to sell.
I should mention also that my partner is self employed and works for cash so the lender would be probably START mortgages?
Any advice????
Thanks in advance...