mortgage on a full and part time salary

oxfordmark

Hey

I work full time earning about 25k. My partner works part time casually. Would a mortgage lender do an application based on the last 6-7 months of salary?

Thanks

Thrugelmir

You or your partner?

Casually infers no employment contract. Though everybody should have one.

Al1x

our mortgage advisor didn't take into account my casual work... but we only needed a mortgage of around £80000 so my husbands wages were enough to go on.

oxfordmark

She doesn't have set hours per month but works as much as she can bringing home an average of £600 per month over the past 7 months.

Would they take this into account?

Thrugelmir

Without a contract there's no guarantee of income. So nothing for the lender to consider.

Even its a zero hour contract your partner should have one. As there's basic employment rights that everyone has. Including paid holidays etc.

oxfordmark

Thrugelmir wrote: »

Without a contract there's no guarantee of income. So nothing for the lender to consider.

Even its a zero hour contract your partner should have one. As there's basic employment rights that everyone has. Including paid holidays etc.

So they wouldn't consider her income?

Thrugelmir

oxfordmark wrote: »

So they wouldn't consider her income?

Her employer has legal responsibilities. Given you want a mortgage. An avenue worth exploring. That's what I'm suggesting.

If the job is casual. So could end at any time. Then unlikely that the income would be considered.

Wh05apk

Depending on the lender, provided there is a steady amount, they may take a view.

What size mortgage and purchase price are you considering?

oxfordmark

Wh05apk wrote: »

Depending on the lender, provided there is a steady amount, they may take a view.

What size mortgage and purchase price are you considering?

hello

she will be going back to full time in May when she finishes Uni.

mortgage size would be 165k for 195k property.

kingstreet

So, you earn £25k, the partner earns £7,200? Any tax credits or child benefit?

£165k on £195k is 85%.

5x your joint incomes would only get you to £161k.

Any credit commitments which extend beyond the next six months?Any children or other dependents? Childcare costs?

If so, these commitments will reduce your maximum mortgage further.

Key your details in a lender's affordability calculator and see what the output might be.

Halifax, Abbey/Santander, Woolwich/Barclays, NatWest are the lenders which will typically lend at the top end, which is what you are going to need. Then you need to concentrate on which of them will include your partner's income.

She doesn't get paid cash-in-hand does she? Proper printed payslips and P60?

oxfordmark

kingstreet wrote: »

So, you earn £25k, the partner earns £7,200? Any tax credits or child benefit?

£165k on £195k is 85%.

5x your joint incomes would only get you to £161k.

Any credit commitments which extend beyond the next six months?Any children or other dependents? Childcare costs?

If so, these commitments will reduce your maximum mortgage further.

Key your details in a lender's affordability calculator and see what the output might be.

Halifax, Abbey/Santander, Woolwich/Barclays, NatWest are the lenders which will typically lend at the top end, which is what you are going to need. Then you need to concentrate on which of them will include your partner's income.

She doesn't get paid cash-in-hand does she? Proper printed payslips and P60?

Hey

We do not have any loans or children. She is at Uni until May but is able to work during this time. She gets payslips so they can be used as proof.

We have a £30k deposit.