Can you apply for a home loan if spouse is on debt review?
The ability to apply for a home loan when your spouse is under debt review depends on the type of marital contract you have.
- If you are married in community of property, you have a joint estate, which means you and your spouse are equally and entirely responsible for any debts incurred while you are married. In this instance, you would have to undergo debt counselling jointly, and both of you would be placed under debt review. Therefore, you would not be able to apply for a home loan while your spouse is under debt review.
- If you are married out of community of property – that is when you have an antenuptial contract – you can apply for debt review without involving your spouse, provided that you have no joint loans. An example of this would be a joint home loan. In this instance, you would be jointly listed as being under debt review for the joint loan. Therefore, if you have no joint loans, you may be able to apply for a home loan even if your spouse is under debt review.
Got More Questions? We have gathered the most frequently asked questions about exiting debt review here.
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