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Been offered from halifax
PUREHOMES
Posts: 147 Forumite
(my current lender) a mortgage of £149,000. Really need a mortgage of £200,000 though. Anyone recommend a lender who may be able to offer this? Based on salary of £35k
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Comments
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I don't think getting a mortgage of 7 x your salary is a very good idea! The income multiples and affordability checks are there to safeguard you, so sorry, you won't find a lender willing to stretch to this.
MMI am a Mortgage Adviser
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.0 -
also have an extra £600 in income every month (minumum), but have no paperwork to prove it.
I have been told today that due to the size of the deposit we are putting down then some lenders wont take our salary into consideration. (House is £275k, putting £75k down and need £200k mortgage)
Is this information wrong?0 -
A lender will always take your salary into consideration no matter what deposit you put down. If you have income you can't prove then a self certification mortgage is a possibility, providing you can prove the source of this income by being registered as self employed with the IR. If you have any working families tax credits and the like this can be used by some lenders as income.I am a Mortgage Adviser
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.0 -
for the advice, it is much appreciated.
I am currently setting up my own company so within a few months, my salary will have tripled (minimum), but I suppose not many lenders will consider that.0 -
No problem!I am a Mortgage Adviser
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.0
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