Joint mortgage

[Itsjustme1]

Hi guys, I'm driving my self mad with worry. Currently in a 5 year fixed fee on a mortgage with my other half. Fixed fee runs out next month so we're looking to re-mortgage, Howard I have a loan and a credit card that my oh doesn't know about (was on maternity pay and needed more money) anyway, will this be disclosed to my oh during the process or can I keep it confidential? Obviously will have to tell the bank. I know I should just tell him but I can't 🙈 thank you xxxx

The debt will need to be taken into account when you undergo affordability check.

You had to borrow money while on Mat Leave...where does he think it came from?

When I remortgaged I stayed with the same lender and just did it all online without having to speak to anyone or disclose debts (OH's not mine) Also neither of us were at the time on permanent contracts. I knew I would be able to meet the repayments so just took their offer.

Stay with your existing provider and you won’t have to declare income or outgoings (assuming you don’t want to borrow any more money)

You should've had a new deal offer by now op, it's usually 60 days before the end of your existing deal.

If you stay with the same provider, you can just pick a new deal and you won't need to disclose anything.

If you choose a new provider and do a remortgage, you will need to do a full disclosure for the credit check. If you don't choose to disclose it, they will reveal it when they check anyway, as you will have to submit a minimum of 3 months bank statements, where I assume you will somewhere be making repayments.

When I had the meeting with the mortgage lender, she had absolutely everything in front of her. My eligibility was straight forward so she didn't say much about my bank accounts/loans but did mention some things as part of the conversation.

I think it will be difficult to have that meeting and avoiding the loan and cc debts being discussed and to be fair, your OH will make an important decision on an investment with you and it is fair on the lender to loan money without hiding the implication of doing so on him.

You'll feel much better coming clean to him and discussing how to make sure to deal with it in the future. If you ran out of money because of a reduction in inco. E he knew about, surely its not your fault and it would be unfair to blame you, he can only be crossed at the fact you didn't mention it at the time.