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Morgage in Someone's Name???

Last post Fri, Apr 25 2008, 3:53 PM by completefinance. 1 replies.
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  •  Fri, Apr 25 2008, 3:53 PM

    Re: Morgage in Someone's Name???

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    Hi Carl....if you use a third person on an application you can use the higher income for affordability's sake, this may allow to borrow what you require. You can also use a guarantor to the same effect in some cases but the loan to value accepted these days is normally lower. You can not have a mortgage in someone else's name as it wouldn't be your mortgage, simple as that.
    • Post Points: 5

  •  Fri, Apr 25 2008, 2:30 PM

    Morgage in Someone's Name???

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    Hi,

    i have a few queries in regards to the above. How does this actually work?? I am a first time buyer and currently renting with my partner and financially we are fine but based on our total income and the credit crunch at the moment can not get a morgage for what we would like. I was woundering how getting a morgage in someone else's name works

    thanks

    Carl
    • Post Points: 20