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twice the national average income to get a single person offset mortgage
ABRDF
Posts: 47 Forumite
At First Direct you have to have 2x the national average salary to apply for a Offset Mortgage. I want 80K on a 300K house, I have salary of only £49500 they wont give it to me because 1. I don't earn the 50K minimum and my partner only earns 18K so we don't meet the joint minim of an astonishing 75K minimum income....... they are having a laf..... I think my figures are affordable!!
If you want a joint account you have to have 75K nearly 3 times the national average income.
Best offset anyone?
If you want a joint account you have to have 75K nearly 3 times the national average income.
Best offset anyone?
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Comments
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It's because it's an interest-only product, not specifically because it's an offset.
They've mirrored what many lenders have done with regard to IO lending.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
FD want 'higher' earners than you and computer says no.
There are probably half a dozen other lenders who may consider this for you.
Forget offset unless you have enough cash 'offsetting' or the maths wont work - 'standard' products are generally lower priced.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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