Joint mortgage or not?

[MrsWhirly]

My apologies if this is a stupid question, but don’t know who else to ask.

We own our home jointly/joint mortgage and are looking to move, buy somewhere bigger that will need a bigger mortgage.

I am in full time employment- always have been. DH self employed, low earner some period as SAHP.

We would need to borrow the max, so should we apply jointly? Or should I apply alone? Can I do this if we own jointly?

Someone told me the fact DH is self employed is problematic.

Thank you.

Ask a mortgage advisor. You should be able to borrow more jointly and you won't be able to hold the house in joint names if the mortgage isn't joint.

Self employed just means he will have to supply an irritatingly huge amount of paperwork in my experience!

Being self employed is mainly problematic when you are newly self employed. Most lenders like to be able to see at least 3 years of accounts/tax returns. Some lenders won't lend to self employed people, or may offer lower amounts, but this may also depend on the nature of the self employment. However, you're extremely unlikely to be able to borrow less as a couple than you will be able to borrow alone.

Your best course of action (and I'm a stuck record for this piece of advice) is to see an independent mortgage or financial adviser who can look at your specific circumstances and figures and find the best deals for you.

Thank you both, that’s good advice - will find a broker to advise.