Affordability problem

dannyb123_2

Hi Guys,

I am looking to get a joint mortgage with my wife, but broker says lenders will only take my 12.5k basic into account even though i get sales comm every month. Only been in job 5 months

Yearly wage inc basic & Comm = £25 000

Regards

Danny

Dom3663

Suppose you have a bad month? Your company makes no sales? I'm guessing you get no commission?
I know its unlikely but if I was lending money out, it is risky

MigsyBigsy

Hello,

can I also add to the same question. I have income of £20,000 per anum but have a deposit of around £50,000. Looking to buy a property in the £150,000 figure. Will mortgage lenders be okay with that amount?

thanks

VIGILANT22

very much doubt you will get 5x your income, well i know you wont

dannyb123_2

Do any lenders take into account your total wage inc comm ? or is it a problem with been in a sales job ?

Dom3663

My wage is 5% commission; Nationwide took that into account as my regular earnings; although it is that small amount it doesn't really affect much

MigsyBigsy

VIGILANT22 wrote: »

very much doubt you will get 5x your income, well i know you wont

was this for me or for Dom, or for both?

VIGILANT22

You've only been in the job 5 months, do you have 3 years continous employment previously....Commission is never taken at 100%

You say: Yearly wage inc basic & Comm = £25 000 but that is still to be proven

Dom3663

That be for you Migsy. 50k deposit plus 5times income of 20k = 150k

VIGILANT22

MigsyBigsy wrote: »

was this for me or for Dom, or for both?

Anybody....nobody lending 5 x income

MigsyBigsy

cheers for that

I guess I need to look for a better paid job...and at the best time...