Co-ownership
Any mortgage advisor, underwriter or anyone with experience of Co-ownership? Husband currently unemployed for just about 3months but has total debt of less than £3k but getting a job very very soon. While I have a very solid employment with about £59000 (£3300/month) and total debt of £555 which will be cleared by 25th of August and a car finance of £6200 (giving back the car at the end of August with no intention of financing another one).
I do have a Default on my credit report from 4years ago when I was on maternity leave and lost my mom at the same time but no CCJ or IVAs etc at all and an Experian score of 983/Creditfile score of 857. I have maintained excellent credit since then and this default is now settled for almost 4years now. We saw a property and just thought to try our dumb luck since our rental property is getting worse by the day and the landlord isn't doing anything about the mold etc
We are in the process of applying for Co-ownership, we hope to make me the sole mortgage person since I can comfortably pay our actual bills (rent, utilities, groceries etc) as I have always done since he was a stay at home dad for a year when our little one was a baby and I had to go back to work (my job was better paying and childcare cost would have swallowed us both). His personal finances remain his responsibility.
Will this be possible at all? Anyone had a similar situation, how was it handled and what was the outcome? Thank you so much as I look forward to hearing from you all.