If your spouse (the principal applicant) has an existing home loan and your proof of funds sits in a joint or your own account at the same bank:
- Disclose the loan. Existing debts, including a mortgage or home loan, should be declared as part of your financial picture rather than left out because it's technically your spouse's liability.
- Include how you intend to manage repayment. Simply listing the loan isn't enough — a brief note or explanation of your repayment plan alongside the disclosure gives the reviewing officer the full picture and avoids the loan looking like an unaddressed liability.
Omitting an existing debt like this, even when the settlement funds are in a different account, risks being treated as an incomplete or inaccurate financial disclosure rather than a simple oversight.