My income won't count so mortgage offer not enough

cheekyweelassie

Is there any way of improving the amount of money the bank will lend us?

I stuck at a job that made me miserable in order to get a mortgage earlier this year, but when the purchase came apart - I left, and am now working in an industry where it is all short-term contracts. I am employed at the moment but the contract runs out in November.

My wife and I have made initial enquiries about her applying for a mortgage on her own. We'd like to look at properties for 180k (this is in London). She earns 33k pa and is in a permanent full-time job. I would be classed as a dependent, even though I am still working and I would also be putting up most of the deposit (which would be up to 30k).

I'm with Nationwide, and when we did their online enquiry it offered 165k which would be plenty, but over the telephone this became 140k. That would leave us short by about 10k, though it's still better than her bank.

Our credit rating is good - apart from an ongoing issue we're having with our council, as we are unable to register on the electoral roll because they claim there are only two flats in our building when in fact we are renting the third one!

Thanks for any advice.

Dave_Ham

Nationwide are not the most generous on income multiples.

Speak with a broker, as this could well be possible depending upon the detail..

All the best