Mortgage help

Your wife's basic income that she doesn't get while on maternity leave can't be used by most lenders, unless she's going back to work within the next 3 months. (There are exceptions to this rule, but not many.)

Child benefit is not accepted by every lender and commission is often averaged and not accepted at 100%.

£32,640 + (£1500*12 months) + £1780 = £52,420 per annum, if I assume that your income doesn't include stuff that can't be accepted at 100% (e.g. bonus that you've only got paid once so far).

Lenders typically go up to 4-5 times income, which would make the max borrowing £262,100.
The fact that you got to £207k indicates to me a few potential things:
- you have credit commitments, which reduce the potential borrowing
- you have done the potential borrowing calculation yourself instead of a broker searching around
- you have had late/missed payments or other adverse credit history that influences the lender options and thus the max borrowing
- there are deductions from your income (e.g. pension, childcare voucher, travel loan)
- there is childcare cost or private pension or other significant outgoings to take into account
If any of the above is true or there are other factors we don't know, then it is possible that you can't borrow more than £207k.

The best advice we can give on this forum is to recommend that you speak to a broker, go through all the details and see what they can come up with. If you've already spoken to a broker, you can always try another one, but no one here can give you an exact answer without knowing the ins and outs of your circumstances.

MightyRed1981 wrote: »

Both have 999 scores on credit expert

Unfortunately Credit Expert aren't a lender and their scores are irrelevant and not seen or used by anyone.

Do you have existing debt?

MightyRed1981 wrote: »

I'm looking to get a mortgage on a house
We recently sold our house and living with parents
We have £40 deposit and purchase price is £265k so £225 is needed
I earn 32640 and wife £6900 plus about £1500 commission although she is currently on maternity (estate agent so commission continues through maternity)
We also get £1780 for child benefit
Closest we have got is £207k need help wangling the last bit
Desperate for help

Is your wifes wage £6900 a year plus £1500 commission, so £8500 in total?


Puts combined at £41140?



So £207k is the correct ballpark figure.

Can't see it happening in all honesty.
A quick google brings up that Tipton and Coseley building society, via a broker offer upto 6x salary however one applicant needs to earn over £50,000 pa.


You could get in touch with a mortgage broker?