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new mortgage query
Barley123
Posts: 2 Newbie
Hi can anyone help, i sold my last house and have been staying with family. I have £90000 deposit, am self employed - income average over 4years is £21000. My wife works on bank staff but has been working full time for one company for 18months Average wage £22k per year - has pay slips, but not contracted. She worked for this company for 3years previously on a fulltime contract (with a break between the two types of work) . Our last mortgage we paid £1300 repayment per month, never defaulted and often overpaid for last 5years. Our current situation is we have seen a house marketed around £250k, we have the £90k deposit and could borrow £10k from family so we would need a mortgage to cover £150k. Does anyone have any advice on whether this is possible as we have been told that my wifes work wouldnt be taken into account?? And i would only be given 4x my salary which would give me a measley £84k! Far less than my previous mortgage! HELP!!!!
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Comments
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You could do with editing that post to include paragraphs. My eyes are hurting!
Can you just explain more about your wife.
Her contract, how long has she been on contract for?
When is it due to be renewed?
When it is renewed, how long will it be for?
Potentially you can use her income.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
In addition to request above, what is your latest year figures as not all banks will use an average....I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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