1st Time Buyer !! HELP RE MORTGAGE XX

Angelandrea

Hi guys im new to all this but really wud like sum advgise cos im getting well stressed.

1stly, mortgage is due to be in my boyfs name, who up until recently was self employed, now he is in full time employment on price work as a joiner, he;s been at new job 9 days, but the figure we gave mortgage peeps was 26k, which we based our mortgage on, so we could get over 100% to pay debts off etc, we have had an agreement in principal accepted but now im worried that when northern rock send letter to new employers we will struggle for 26k

ANY IDEAS, IM SO CONCERED, WE'VE HAD OFFER ACCEPTED ON A PROPERTY TOO

Thanks folkz xx

herbiesjp

What figure do you think he earns?

Angelandrea

well he has been there 9 days and earned around 700 quid x

herbiesjp

Is that basic salary, or is he paid as and when he does work?

Angelandrea

he gets paid on price work, so price for a door a lock etc x

herbiesjp

Well the bottom line is, the mortgage was agreed on the basis of £26k income which you stated.

So now the lender will want to see proof of that £26k income - they will want to be satisfied that you can indeed afford the mortgage

Angelandrea

that was based on self employed basis, will they take that into account ( previous employment ) ??
x

Angelandrea

what about any parttime work he does ?? foreigners etc ??

herbiesjp

As long as he can verify the £26k he will be ok - if he cannot get that verified you may have problems.

Not sure what you mean about foreigners

Leon_W

Foreigners is another name for cash in hand. And no they won't take it. And yes they will make sure that your boyfriends job is permanent and not on probation by asking for a reference from his employer.

Angelandrea

ok, so let me clarify this, his job is permanant yes pur local pub he does work for every so often who willl also do a ref for him so we should be kewl yeah, but also it came back referred what dosthis mean !! xxxxxxx