sub contractor

bronzedg

My partner is a sub contractor he has a contract with a company who pay his tax all he has to pay is his national insurance i think he is classed as PAYE the HSBC would have lent us the money we needed no problem on this but they wanted more documents for the amount of money needed from my employer which i couldnt get or would have took forever to sort out.

I have heard not many good things about HSBC & being a personal customer we have also had a lot of problems with them & they dont seem to be lending much on our combined wage of £50k anyway £144k have recently checked other websites & they will offer us quite a lot more just wondered if his situation will make a differerence ? Are there any lenders that are easier to lend of such as Halifax ? or Post office ? We dont even mind paying more in repyaments securing the house is the most important thing. Can anyone offer any advice.

Thrugelmir

Obtaining a mortgage from any lender will require a process of verification and suitability. So a few questions to enable us to give you some suggestions.

What is your combined income?

How much deposit do you have saved?

What is the amount you are hoping to borrow?

Do you have any debts?

How long is your partners contract for?

What documents did HSBC require from your employer?

bronzedg

What is your combined income?

Combined income is 50k but

How much deposit do you have saved?

We are in a position to put down 10 to 20% deposit didnt think we would get many deals for 10% but there seems to be a few out there

What is the amount you are hoping to borrow?

£162,500

Do you have any debts?
none whatsoever

How long is your partners contract for?

Its sub contracting so its for new set period & has been doing the same job since 16 so 9 years so there is a lot of history with no period unemployed

What documents did HSBC require from your employer

In my job i get basic salary & then 2.80 for every hour i work & they wanted my contract stating this £2.80 was guarnteed but its not worded like that so am happy to bypass this & just put down 11,500 as my basic so then combined would then be would 40k