High Deposit, but struggling with the mortgage

maninthestreet

You need to set you sights a little lower - buy a cheaper property, requiring a smaller mortage and does not required a lodger/lodgers in order for you to be able to service the monthy mortgage payments.

kingstreet

If a lender wrote to your employer for an employer's reference, would your employer guarantee that level of commission payment and confirm it continuing in the future?

If they will, you may get 100% taken into account instead of 50%.

ACG

Lenders do not take lodgers income into account.
Dont forget interest rates are artificially low at the minute, there is only 1 direction theyre going to go.

If your stretching your income now, where will you be in 2,3 or 5 years time - presuming your lodger is no longer there and rates do rise?

I personally would give up on this, i dont even think i would take it on as an advisor unless you were prepared to pay part of my fee upfront as i think i could spend a lot of time on this and get nowhere.... thats not me touting for business, infact its the complete opposite i think it would just be a waste of my time. As i said, i have put it in 2 calculators with lenders who are pretty lenient on income multiples and even they are at best £20k off, although more like £30-40k.