family member on mortgage to meet min. requirement

[Peshey]

I couldn’t get a mortgage on my earnings, so I added my brothers wages to make up the difference, he doesn’t live with me or pay towards mortgage, he has her own council flat, would this be classed at mortgage fraud? Or will he be okay to help me in a situation like this?

 

[nmb]

I would guess unless he is a joint owner of the property and actually contributing it might look as though you are obtaining money by deception? From the outside looking in it does look like mortgage fraud.

 

[Veronica]

Unless he is willing to sign as guarantor and agree pay the mortgage if you default I would say that it is fraudulent.

 

[diyhelp]

I would be extremely careful going down this route as not only could you get in trouble but I cant imagine it will have a positive impact upon your personal credit rating going forward - if indeed it does turn out to be treated as mortgage fraud.

 

[realdeals]

Unfortunately, this is blatant fraud because you have effectively lied on your mortgage application form. By increasing your income, adding that of your brother’s income to yours, you are giving a totally different picture to the mortgage company. Even if you manage to pay the mortgage with no issues going forward, if they find out you have lied on the mortgage form you will be in serious trouble.