Hi all
So I've been doing some investigations and I know that I could get a mortgage with little difficulty... Everything that is required for a successful application I can tick off.
My husband and I have found a house we'd like to buy, however, he is 46 (nearly 47) and I am 30. I spoke to a broker today that said if I were to apply for the mortgage as a single applicant then I could get a 25 year term. If I were to put in a joint application with my husband then the max I could get would be 20-21 years.
Has anyone had any similar experiences of this?
I'm not comfortable just having the mortgage in my name - it doesn't feel right. I wondered if it's possible just to put his name on the mortgage but not include his salary? He's permanently employed & would have to pick up the slack if I happened to be out of contract at any point, which he could do.
I guess I just don't like the idea of being solely responsible for the debt and it seems a bit odd that I would own the house. I know legally we can create a deed of trust should things go pear shaped, but I would like to avoid that if possible.
Any advice appreciated.
Thanks
MrsG
So I've been doing some investigations and I know that I could get a mortgage with little difficulty... Everything that is required for a successful application I can tick off.
My husband and I have found a house we'd like to buy, however, he is 46 (nearly 47) and I am 30. I spoke to a broker today that said if I were to apply for the mortgage as a single applicant then I could get a 25 year term. If I were to put in a joint application with my husband then the max I could get would be 20-21 years.
Has anyone had any similar experiences of this?
I'm not comfortable just having the mortgage in my name - it doesn't feel right. I wondered if it's possible just to put his name on the mortgage but not include his salary? He's permanently employed & would have to pick up the slack if I happened to be out of contract at any point, which he could do.
I guess I just don't like the idea of being solely responsible for the debt and it seems a bit odd that I would own the house. I know legally we can create a deed of trust should things go pear shaped, but I would like to avoid that if possible.
Any advice appreciated.
Thanks
MrsG
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