Please help with a mortgage application and i will be really thankfull

summer78

Hi all of you clever people im in a dilema and im not sure what to do.

My husband and i are about to put our house on the market soon. Im currently employed at 23K and my hubby earns £34500. The problem is i am currently on sick leave after my maternity leave. I have to hand my notice in once the sick leave is over as i do not have childcare and my job wont be flexible with my working hours. So i wont have a wage. Im thinking i may get another couple of weeks sick leave so do you think its worth trying to get a mortgage approved before i hand in my notice?

Once i leave my job i know the application will just be based on my hubbys salary and wont give us enough to buy the house we want. In my current situation with my wage we can get more than enough lent to us.

Basically my question is, is it possible for me to apply for a mortgage that is fixed for 5 years and then before we move leave my job?

Thanks for all of your help
x

HEADABALL

i may b new on here , and i dont mean to offend .but if u cant afford the house after leave ur job ,why on earth would u try and squeeze an application through ,before u become unemployed.firstly is that not fraudulant? and secondly could u just look for a cheaper house,that u can afford ?

opinions4u

summer78 wrote: »

My husband and i are about to put our house on the market soon. Im currently employed at 23K and my hubby earns £34500. The problem is i am currently on sick leave after my maternity leave. I have to hand my notice in once the sick leave is over as i do not have childcare and my job wont be flexible with my working hours. So i wont have a wage. Im thinking i may get another couple of weeks sick leave so do you think its worth trying to get a mortgage approved before i hand in my notice?

Based on your husband's income, yes. Based on your income, absolutely not.

Once i leave my job i know the application will just be based on my hubbys salary and wont give us enough to buy the house we want. In my current situation with my wage we can get more than enough lent to us.

Basically my question is, is it possible for me to apply for a mortgage that is fixed for 5 years and then before we move leave my job?

Questions will start to get asked as and when your income is assessed, so there is a reasonable likelihood the lender would decline it anyway.

If they don't, and your mortgage goes through, you will effectively have obtained money by deception.

TeddyBear_2

summer78 wrote: »

Hi all of you clever people im in a dilema and im not sure what to do.

My husband and i are about to put our house on the market soon. Im currently employed at 23K and my hubby earns £34500. The problem is i am currently on sick leave after my maternity leave. I have to hand my notice in once the sick leave is over as i do not have childcare and my job wont be flexible with my working hours. So i wont have a wage. Im thinking i may get another couple of weeks sick leave so do you think its worth trying to get a mortgage approved before i hand in my notice?

Once i leave my job i know the application will just be based on my hubbys salary and wont give us enough to buy the house we want. In my current situation with my wage we can get more than enough lent to us.

Basically my question is, is it possible for me to apply for a mortgage that is fixed for 5 years and then before we move leave my job?

Thanks for all of your help
x

First off, I have been in the same situation as you of giving up work to be a full-time parent to my children, so I do sympathise on that point.

As I read through your post, I was about to suggest that any application for a mortgage should be based on your husband's earnings and then you need not be involved with giving information about yourself which will ultimately be inaccurate. However, from your circumstances, you say you cannot do that, and as already stated, when your mortgage application is reviewed a check of three months worth of your bank statements will confirm you and your husband's ability to honour any new mortgage plus all other outgoings.

Out of curiosity, how much is the shortfall in mortgage you require if based purely on your husband's income? Instead of moving, is there an option to extend your existing home?

Dranny

Do you have repayment protection in place?

And will you be able to afford the repayments on one wage?

Personally I'm of the opinion that until you actually hand in your notice, its pie in the sky.

You could change your mind, and if something is agreed regarding your present situation, not your maybe in 3 months situation, more power to you.

Ethically dodgy maybe, but its up to you.