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  • FIRST POST
    • jcredi
    • By jcredi 11th Oct 17, 4:42 PM
    • 1Posts
    • 0Thanks
    jcredi
    First Time Buyer - Commission Based Mortgages
    • #1
    • 11th Oct 17, 4:42 PM
    First Time Buyer - Commission Based Mortgages 11th Oct 17 at 4:42 PM
    Hi all

    i am in the process of saving for a deposit in order to purchase my first property along with my girlfriend.

    She has a stable, regular income as she is a teacher. however, i work as a salesman who earns a basic rate, with a load of commission on top.

    The question i have ( and wondered if anyone could help with this ) is that due to the nature of my pay, is it going to be difficult to get a better rate, or even a mortgage at all and are their lenders that would take a more relaxed view on it given that my annual figure is increased by about 15-20k on top of my basic?

    Will be discussing with an IFA in the near future, but wanted to see if anyone had any advice of recommendations before doing so

    many thanks - Jon
Page 1
    • kingstreet
    • By kingstreet 11th Oct 17, 5:10 PM
    • 32,080 Posts
    • 17,169 Thanks
    kingstreet
    • #2
    • 11th Oct 17, 5:10 PM
    • #2
    • 11th Oct 17, 5:10 PM
    There are lenders who take a flexible approach to variable earnings and the longer you can evidence receipt, the more you'll have in your potential lender pool.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • amnblog
    • By amnblog 11th Oct 17, 8:34 PM
    • 9,874 Posts
    • 3,827 Thanks
    amnblog
    • #3
    • 11th Oct 17, 8:34 PM
    • #3
    • 11th Oct 17, 8:34 PM
    If you get commission every month, that helps.

    If you have two or three years track record in the job that also helps.

    What helps most is using a good Mortgage Broker.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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