Mortgage position

emilyjw

We are currently on a standard variable rate with our mortgage and it looks like my husband is going to be starting a new job resulting in a house move.

With regards to getting a mortgage would any companies base it on his new salary (i'm assuming he will have 6 months probation), my mum is happy to be a guarantor if required.

My other slight issue is do all companies take into account childcare costs as we currently pay around £800 a month though this will go down to £500 come January which I guess is the earliest we would be likely to move.

Our current house is worth around £145k and ideally we'd like to look at getting something around £175k we would have just over £30k equity, and my husband has the possibility of taking voluntary redundancy which could add another 4k to the potential deposit.

My salary is currently £13k and his current is £28 with the new one being £32.5

Does the above look feasible?

kingstreet

Lenders like Nationwide and Halifax will lend during your husband's probationary period. They will make a deduction for childcare costs but will also take into account tax credits.

emilyjw

Thank you :beer: