Does anyone know how underwriters think?

sundin13

Hi,

We're considering trading up to a larger house, but my better half has recently made a career change to become a teaching assistant and has subsequently gone from a permanent job to a temporary contract.

Our mortgage is with Co-op, who will lend us 4.25 x my salary (33,661 - £143k), but we are likely to need a bit more than that (no more than £155k). The customer service rep I spoke to couldn't tell me whether or not the underwriters would give us any more, with the temporary contract factor.

What I was wondering was, do you think the the underwriters would consider giving us any more than that amount, given that we have the following income:
£33,661 - me
£8,000 - oh (temporary contract for the school year - but may possibly have had renewal confirmed by time we apply)
£3000 - court ordered maintenance, but will only last two years more.
£4000 - tax credits
£3000 - Child benefit

Oh - and we have about £35k equity - looking for a house that's currently for sale at £189k, but I hope to get it for a bit below that.


Any insight would be much appreciated.

S13

Conrad

I think that's entirely possible, though I wouldn't know about the coop as they are 'direct business only'.

It's all about presenting the case to an understanding underwriter as you seem to have alluded to.