Help please - re mortgage

caevans

hi
Please help!
We have sold our property and were looking to purchase another. I wrongly presumed we would be able to get another mortgage without any problems, but I was wrong and am now panicking (alot!).
The problem is that my husband is still on his probationary period at work and this is stopping some of the big mortgage lenders agreeing to lend us.
Can anyone please recommend a mortgage company that may overlook the fact he is still on his probationary period?
We have a fairly large deposit of approx 60k. Looking to borrow approx 120k
thanks

betmunch

It can be done even though he is in a probabtion period.

I wont recommend a lender to you in case there are other issues stopping you getting a mortgage with this lender, but if you speak directly to any half decent broker they should be able to sort you out.

Cheers

Conrad

Yes, will depend on various things such as how long the gap was between jobs, term of last job, whether new job is in the same field etc.

caevans

thanks. Have been offered less than we need by 2 companies. It looks like the cost of childcare also impacting on how much we can get.... :-(

Conrad

Make sure the Human underwriters take a look up front so you dont get a nasty surprise down the road when they 'suddenly' request a reference from the employer regarding the likelyhood of him being made permanent staff.

caevans

Thanks, he was in previous job for about 2 1/2 years with no break between jobs. Was in same area. Not even getting as far as giving that information. As soon as I mention the word probation I am getting nowhere apart from the 2 companies who will only lend up to £90k. Seems as though if I don't tell them about childcare we will get more. Is that illegal?

beecher2

caevans wrote: »

Seems as though if I don't tell them about childcare we will get more. Is that illegal?

If you answer any question incorrectly, then that's fraud. What about renting until your husband is out of his probationary period? Otherwise you need to see a mortgage adviser.

caevans

Hi
The thing with childcare is that at the moment we aren't paying anything. We start paying childcare next month when I go back to work. Would that still count as fraud?
I know thats maybe a stupid question, just trying to find a way round our predicament.
We were planning on renting but have realised the cost of renting is a great deal higher than if we had a mortgage.
We have got ourselves in a right mess with not anticipating all this.

herbiesjp

caevans wrote: »

Hi
The thing with childcare is that at the moment we aren't paying anything. We start paying childcare next month when I go back to work. Would that still count as fraud?
I know thats maybe a stupid question, just trying to find a way round our predicament.
We were planning on renting but have realised the cost of renting is a great deal higher than if we had a mortgage.
We have got ourselves in a right mess with not anticipating all this.

That would be classed as a material fact that would need to be disclosed.

You have not stated any of the figures - or which lenders have knocked you back - but you should be able to find a lender to help.

You are spending of lot of time trying to find a solution, but not getting very far -I think you would benefit from speaking to an adviser and ask them to help you out in order to find something very quickly.

caevans

Hi
thanks
Knocked back by Santander and halifax so far. Nationwide would offer up to 90k as would Yorkshire. Yorkshire would offer up to £140k if it wasn't for the cost of childcare! ING to get back to me, our form is with underwriters, but based on other companies we don't have high hopes.

VIGILANT22

Are you aware how all these multiple applications may affect your credit file?