Mortgage applicants in theory

User_Name:

Hi all

I hope you will take time to read this thread and provide any answers you have to my query.

Essentially, I want to know if I can get a mortgage based on the following basic information;

Applicant 1
Full time employment
Salary £20,000
Applicant 2
Part time contract
Salary £18,000
Deposit £70,000 approx.

I appreciate that this is a theoretical question but I would appreciate any comments you have. I intend on approaching a lendor in the near future but I am currently doing my research on mortgages that would be appropriate.

Thanks

User Name:

_Andy_

No idea given you haven't stated property value

User_Name:

I would want to acheive an LTV value of less than 75%. But based on salary specified I think that, given information supplied by mortgage calculators online, I could borrow £130,000.

The crux of my question concerns the part time contract employment of applicant two. That seems to be an issue given the information I have analysed regarding applicants. We would be first time buyers also.

Thanks for your post

ACG

Incomes and part time employment are fine.

I would imagine a mortgage of closer to £160k is possible if wanted/required. But it all depends on credit score, credit commitments and everything else as a whole but generally speaking what you want sounds achievable.