Electoral Roll with Credit Problems

[Davman2005]

IMy partner is purchasing a house at the moment 100% in her name, I have a bad credit history and I am currently with CCCS on a debt management plan. We are due to be married in April and I am concerned it will cause a problem with her mortgage if I am on the electoral roll at the new house. I am on it at the moment under the same arrangement. Also if she applies for credit when married in her name only will there be any potential problems?

[Loosehead]

Well assuming you intend to live in the house together then the lender will want to know about you even if you are not directly on the mortgage or half and half owner. They will be very weary of having one parthner with a less that healthy credit history. Depends on the lender but do not be suprised if they run a mile. The problem is as you are spouse to the purchaser you have rights which will make them want to protect their investment. It also depends on the equity/mortgage ratio. Good luck.

[Davman2005]

The current lender will be the same at the new house, I have signed a document signing away my rights which I perfectly happy to do in the circumstances. Should this be a problem?

What if I was a friend and just lodging would this still be a problem?

[Loosehead]

Some lenders are very cautious, even with lodgers etc so really I guess you just have ask them. They may get you to sign something. The problem is, from the lenders point of view if a lodger is present and for whatever reason they have to reposses then all sorts of legal problems arise. That's why it says you have to tell them if you take in a lodger. You as a spouse would be subject to at least what they would expect of a lodger. The best thing to do is explain the situation and see what they say, I'd be interested in the outcome.