We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Can we get a Mortgage?
muster
Posts: 3 Newbie
Hi I am self employed director of a ltd company with drawings over the last 3 years of £30k (2010), £35k (2011) and £53k (2012). My wife has just started in a new job earning £65k but has only been there 1 month.
We are looking to move to a new place, have £100k deposit for a £400k property.
Does anybody know which lenders would be willing to consider us?
Thanks in advance for your help.
We are looking to move to a new place, have £100k deposit for a £400k property.
Does anybody know which lenders would be willing to consider us?
Thanks in advance for your help.
0
Comments
-
There will definitely be solutions, may be worthwhile speaking with a broker.
Your solutions will be limited if your Wife has a probation period.
Definitely achievable though, subject to specific circumstances...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 -
Thanks for the quick reply Dave, she has not got a probationary period, I was just concerned with the fact that she had not been there very long. I presume that this will reduce our options with the number of lenders.0
-
Many lenders will take into account income from a job with as short a period of 1 month in it.
Income wise it appears to be fine assuming a term of sufficient length.
Worth a chat with a broker.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 -
You are highly likely to have options here, but almost certainly a broker case or a lot of reading and talking to lenders yourself..
Good luckI 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 -
Try a few direct lenders as they have cheaper deals. No more leg work than researching a holliday.
Pretty straight forward case.
One thing though is to make it clear your drawings were less in previous years as some lenders take an average.
On the life assurance a good broker will re - imburse commission meaning it's cheaper going through them than direct to an insurer.0 -
Should be fine as long as the underlying company profits support your drawings and your wife is not employed by your company.0
-
Probation/or a new job is not an issue for most lenders, income wise you should be fine, most lenders now require SA302's to prove income, so would be worth ordering them from HMRC now to have ready when you need them.I am a mortgage adviser.You 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
-
Thanks for all the advice everyone I was a little concerned but feel pretty confident about it now.
Has anybody used charcol before?0 -
Thanks for all the advice everyone I was a little concerned but feel pretty confident about it now.
Has anybody used charcol before?
Personally I use gas now for my barbeque.
You might find you get better service from a local broker who will sit down with you face to face.I am a mortgage adviser.You 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
This discussion has been closed.
Categories
- All Categories
- 347.1K Banking & Borrowing
- 251.6K Reduce Debt & Boost Income
- 451.7K Spending & Discounts
- 239.3K Work, Benefits & Business
- 615.2K Mortgages, Homes & Bills
- 175K Life & Family
- 252.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards