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Joint mortgage with part income disability benefits
Alan_Smithee
Posts: 1 Newbie
Hi
My partner and I have got through a preliminary telephone interview with Norwich and Peterborough for a 10 year fixed rate mortgage. The next step is an hour and a half long telephone interview next week (!!!)
Our LTV is 38%
Mortgage needed is: repayment of 3x my partner's annual salary
Desired term is: 11 years.
They couldn't lend up to the amount needed on the basis of my partner's salary alone. However, when they factored in my disability benefits they could lend the needed amount - subject to approval at some later stage.
My question is: Is it likely that such a cautious lender will accept our application given that continued receipt of disability benefits is very uncertain at the moment. (For everybody receiving them i.e. changes from DLA to PIP etc.)
Their process seems quite drawn out and I am worried that we will need to go elsewhere at a late stage in our housebuying.
Thanks in advance
My partner and I have got through a preliminary telephone interview with Norwich and Peterborough for a 10 year fixed rate mortgage. The next step is an hour and a half long telephone interview next week (!!!)
Our LTV is 38%
Mortgage needed is: repayment of 3x my partner's annual salary
Desired term is: 11 years.
They couldn't lend up to the amount needed on the basis of my partner's salary alone. However, when they factored in my disability benefits they could lend the needed amount - subject to approval at some later stage.
My question is: Is it likely that such a cautious lender will accept our application given that continued receipt of disability benefits is very uncertain at the moment. (For everybody receiving them i.e. changes from DLA to PIP etc.)
Their process seems quite drawn out and I am worried that we will need to go elsewhere at a late stage in our housebuying.
Thanks in advance
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