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Original poster

To aim to buy a house without partner

40 replies

winebreeze · 26/07/2023 14:19

DP is shocking with money. Very bad credit and owes quite a sum of money.
We need to either buy our house or move as landlady selling in 3 years.
I don't want to leave him, he does contribute financially to the household but he won't be in a position where his credit file will be good enough to get a mortgage.
I have started saving for a deposit. I want to buy our house, is this a good idea to do on my own and keep him financially separate from me? Is it achievable on a salary of 30000 to get a mortgage??

OP posts:
Cheesusisgrate · 26/07/2023 14:23

Is it achievable on a salary of 30000 to get a mortgage??

Well yes, but the question should be "is xxx mortgage achievable on 30k".

caerdydd12 · 26/07/2023 14:24

What are house prices like in your area? How much are you wanting to borrow and what's the max you'll be realistically able to save for deposit and fees?

MillWood85 · 26/07/2023 14:25

I would get legal advice first. Make sure that he can't affect your credit score by him using it as his address, and what happens if he runs more debt up when you're living there......

And if you ever marry, he could then claim half.

I'd ask a solicitor, not MN.

caerdydd12 · 26/07/2023 14:28

MillWood85 · 26/07/2023 14:25

I would get legal advice first. Make sure that he can't affect your credit score by him using it as his address, and what happens if he runs more debt up when you're living there......

And if you ever marry, he could then claim half.

I'd ask a solicitor, not MN.

Credit checks are based on people, not addresses, so providing the OP and her partner have no joint finances (linked accounts etc) then his credit cannot affect hers.

daffodilandtulip · 26/07/2023 14:28

I had a ten year marriage to a man who never contributed (financially or otherwise) and it took a long, expensive court case for him to not walk away with my house when I kicked him out.

Cheesusisgrate · 26/07/2023 14:28

Someone with bad credit score in your address doesn't affect yours. Omly way may be if you arelinked via things like joint account, but even then I had 999 on experian while DH was stuck on 600 because he couldn't be on electoral roll🙄

But! It is always good idea to get legal advice so there would be no claim in future on property. Which there could be realistically if he spends money on it. Depends what op wants and plans.

Hankunamatata · 26/07/2023 14:29

Yes I'd say doable. Make sure paperwork is done as dp being lodger and pays you so has no claim in the house

tescocreditcard · 26/07/2023 14:31

A mortgage is achievable on any salary really.

BarrelOfOtters · 26/07/2023 14:41

Yes make sure he can't walk away with half if you ever split up.....

Bananalanacake · 26/07/2023 14:45

Yes, buy on your own, you could have a relationship without living together, don't let a man who is bad with money drag you down. Get a lodger if you have an extra room.

BanditsOnTheHorizon · 26/07/2023 14:49

Do it, everyone needs their own financial independence and if your dp isn't in a position to buy with you and is bad with money, then you need to do this alone.

clarebear111 · 26/07/2023 14:55

daffodilandtulip · 26/07/2023 14:28

I had a ten year marriage to a man who never contributed (financially or otherwise) and it took a long, expensive court case for him to not walk away with my house when I kicked him out.

This sounds stressful. I'm going through a long, expensive court case myself. Glad it all worked out.

LumpyPumpkin · 26/07/2023 15:01

I got a mortgage on my own on a salary less than that. However, I was gifted my small deposit and house prices in my area are very cheap. So it will all depend on what size deposit you are able to save and how much the house costs.

daffodilandtulip · 26/07/2023 15:05

@clarebear111 unbelievably a stressful. But have hope, I am very happy now.

Backstreets · 26/07/2023 15:05

Why not? Have an honest chat with DP though and I wouldn’t advise marrying him.

Aquamarine1029 · 26/07/2023 15:25

I wouldn't buy a kettle with that man. Never marry him and never combine your finances.

nalabae · 26/07/2023 15:58

Don't let him convince you to share his debt ever.

OhComeOnFFS · 26/07/2023 16:07

How much do homes cost in your area?

How much does your partner owe?

shivawn · 26/07/2023 16:16

Is it achievable on a salary of 30000 to get a mortgage??

Would be almost impossible to get anything around here without a very big deposit saved. Have you priced houses in your area to see how much you'd need?

trevthecat · 26/07/2023 16:41

Really depends where you are. Near me in nw it would be doable

GrannypantsMagee · 26/07/2023 16:47

Do it. He will have to sign something for the mortgage provider to say he is accepting of the situation ie that he lives there but has no ownership of the house

Cornishclio · 26/07/2023 17:02

It is perfectly possible to buy on your own but get something drawn up to say he has no call to the house. Is he sorting out his finances? Whether £30k is enough depends on how big a mortgage you will need. Just save as much as possible.

Original poster
winebreeze · 26/07/2023 22:35

Thank you for all your advice.
I'd definitely get legal advice once I bought. Also will keep finances separate.

I'm hoping to have saved 10K for a £200,000 house in the north west in three years. Would that be enough?

OP posts:
UsingChangeofName · 26/07/2023 22:49

No, I don't think it will be.

Firstly - the price of houses could go up
Secondly, you are generally expected to have a10% deposit (so £20 K)
Thirdly you can borrow multiple of your salary.
3 x would mean you can borrow £90K
4x would mean you can borrow £120K

You wouldn't be able to borrow 6.5 x your salary, and I doubt many lenders will lend to you with a 5% deposit.

caerdydd12 · 26/07/2023 22:50

winebreeze · 26/07/2023 22:35

Thank you for all your advice.
I'd definitely get legal advice once I bought. Also will keep finances separate.

I'm hoping to have saved 10K for a £200,000 house in the north west in three years. Would that be enough?

Nowhere near enough in my opinion, it's a 5% deposit with nothing left over for survey, solicitor fees or moving expenses. I'd also doubt you'd manage to borrow 190k on 30k earnings. It's over 6x your annual earnings without taking into account anything that reduces affordability with their stress tests (dependents, childcare, debts etc).

On 30k I'd be expecting to borrow a max of £135k really.

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