Mortgage application issue

xxbrady

I'm hoping to apply for mortgage in the next year or so.

Is it possible to get a mortgage in my name alone. My wife has an ongoing case with an ex partner and the ulsterbank for the past 3 years. They own a property in negative equity. It is a shell of an apartment.
There's no way her name can be on the mortgage.
Herself and her solicitor think it could be about 18-24 months before its sorted. Been going on 4 years in which no money was paid. Or was rented out then the ex sold all contents so literally only a shell.

Im getting conflicting information if I can apply on my own. I am in a position to afford a mortgage on my own.
Any advice welcome.

newacc2015

xxbrady wrote: »

I'm hoping to apply for mortgage in the next year or so.

Is it possible to get a mortgage in my name alone. My wife has an ongoing case with an ex partner and the ulsterbank for the past 3 years. They own a property in negative equity. It is a shell of an apartment.
There's no way her name can be on the mortgage.
Herself and her solicitor think it could be about 18-24 months before its sorted. Been going on 4 years in which no money was paid. Or was rented out then the ex sold all contents so literally only a shell.

Im getting conflicting information if I can apply on my own. I am in a position to afford a mortgage on my own.
Any advice welcome.

Get your own legal advice from someone other than her solicitor and go from there. Or even phone a few brokers and see what they say.

Trish56

Once you are married and it is the family home you have to have mortgage in joint names. You can purchase an Investment property in your own name only and it will occur a higher interest rate and you will have to come up with a 30% deposit.

I am in the mortgage business over 40 years and the above is definite.
Trish

xxbrady

Trish56 wrote: »

Once you are married and it is the family home you have to have mortgage in joint names. You can purchase an Investment property in your own name only and it will occur a higher interest rate and you will have to come up with a 30% deposit.

I am in the mortgage business over 40 years and the above is definite.
Trish

Thank you. Can you advise what epithelial happen if we divorced? We will try anything at this point!!

xxbrady

Trish56 wrote: »

Once you are married and it is the family home you have to have mortgage in joint names. You can purchase an Investment property in your own name only and it will occur a higher interest rate and you will have to come up with a 30% deposit.

I am in the mortgage business over 40 years and the above is definite.
Trish

Or is there anyway around wife's name on application even though ongoing case over mortgage in her name with an ex.

goldenhoarde

xxbrady wrote: »

I'm hoping to apply for mortgage in the next year or so.

Is it possible to get a mortgage in my name alone. My wife has an ongoing case with an ex partner and the ulsterbank for the past 3 years. They own a property in negative equity. It is a shell of an apartment.
There's no way her name can be on the mortgage.
Herself and her solicitor think it could be about 18-24 months before its sorted. Been going on 4 years in which no money was paid. Or was rented out then the ex sold all contents so literally only a shell.

Im getting conflicting information if I can apply on my own. I am in a position to afford a mortgage on my own.
Any advice welcome.

A divorce will take 5 years You need to get involved and see what the holdup is as the longer it goes on the more it costs you.

As you are married now its possible the bank could come after your assets as they are now your wife's given that you are married.!

Get on the case and see what the issues are and see what can be done.

xxbrady

goldenhoarde wrote: »

A divorce will take 5 years You need to get involved and see what the holdup is as the longer it goes on the more it costs you.

As you are married now its possible the bank could come after your assets as they are now your wife's given that you are married.!

Get on the case and see what the issues are and see what can be done.

Our solicitor said that because I didn't even know her at the time that I've nothing to do with it.
The hold up is from her ex. So anytime it's in court the judge postpones it on another few months.
It's over 170 thousand in debt. Property is.on the market for sale at the moment for 35 thousand.

Trish56

No. Family home mortgage must be in joint names once you are married. Even when the whole mess is sorted out 18 months down the road due to the fact that she did not make repayments to the mortgage she will have a bad credit rating and wont get credit.

xxbrady wrote: »

Or is there anyway around wife's name on application even though ongoing case over mortgage in her name with an ex.