Can one person in a married couple take out a mortgage?

This is a question we regularly get, and it’s a tricky answer because it’s both ‘yes’ and ‘no’. If the property is a homeloan the answer is ‘no’, if it’s a buy to let then the answer is ‘yes’.

Perhaps you are wondering why this might be a question? Normally it’s because one of the couple have an issue that would adversely affect the mortgage application, such as a spouse who has a bad credit rating, or they might have other debts (like cars or personal loans).

Another thing that we see is the likes of Stamp 4 status or a persons legal status being an issue so in this case you might see them factored in when it comes to the running costs estimated but the lender will not factor in any of their income, this then puts very negative pressure on the application.

Can it be done? Not without committing a version of mortgage fraud. Regulated entities are required to disclose all facts to the bank when making a credit application on behalf of a customer (CP10 declaration), …

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