Mortgage / income from lodgers query

serious_saver

Does anyone know if there are mortgage companies that will take into account the fact that there is a second person paying into the house without them officially being on the mortgage?

I am aware that a few years ago there were companies that would take into account the fact that a room would be rented to a lodger for example.

Unfortunately a couple of attempted purchases towards the end of last year fell through (I’ve been feeling a bit disheartened) so we were thinking about pushing our budget up slightly.

I bring in the highest income but I cannot get a mortgage because I am a freelance/contract worker.

I am hoping that someone on here will know of some lenders that would be prepared to lend slightly more to my OH on the basis that I am paying in as well.

*Disclaimer – I am realistic, so don’t worry about being brutally honest if I’m living in cloud cuckoo land

ACG

how long have you been freelance/contract for? How many years accounts SA302s do you have?
How big is your deposit?

HappyMJ

There are lenders that will lend based on the contract value rather than on accounts. You need to get a broker to help you.

serious_saver

ACG wrote: »

how long have you been freelance/contract for? How many years accounts SA302s do you have?
How big is your deposit?

I have been working freelance for 3 years but unfortunately HMRC requires that I am paid PAYE because of the nature of my work, so no SA302s. I've done quite a lot of research and I have not been able to find any lender that will take my income into account. (under their categories I would be classed as casual)

Deposit £50,000 (have separate savings to cover fees)

OHs income £19,000

Have been looking for property in the region of £125,000 would like to be able to get up to £150,000.