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First Time Buyer Mortgage Advice
zippiesdisciple
Posts: 29 Forumite
Hi everyone,
I need some advice.
My husband and I are looking to buy our first home.
We are discharged bankrupts (over 6 years) with a now perfect credit history. We have credit cards with Nationwide that we clear off every month.
My husband is self employed (less than 1 year) & has a business account.
I am employed in two jobs, 1 for over 9 years and the other 6 months.
We know how much the banks will lend me on my annual income alone and we have a 25% deposit for that.
The question I need the answer to is, as my husband hasn't been self employed for more than 1 or 2 years, I will have to apply for the mortgage on my income alone but what happens at the affordability part? Will the banks look at my husbands income as well as mine? I am a tad confused.
My husband will have been self employed 1 year in April 2014.
Any help would be appreciated
Thanks
I need some advice.
My husband and I are looking to buy our first home.
We are discharged bankrupts (over 6 years) with a now perfect credit history. We have credit cards with Nationwide that we clear off every month.
My husband is self employed (less than 1 year) & has a business account.
I am employed in two jobs, 1 for over 9 years and the other 6 months.
We know how much the banks will lend me on my annual income alone and we have a 25% deposit for that.
The question I need the answer to is, as my husband hasn't been self employed for more than 1 or 2 years, I will have to apply for the mortgage on my income alone but what happens at the affordability part? Will the banks look at my husbands income as well as mine? I am a tad confused.
My husband will have been self employed 1 year in April 2014.
Any help would be appreciated
Thanks
0
Comments
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No, you would just put down £0 for his income as it cant be evidenced to a level any lenders would be happy with that he is earning more than that.I am a Mortgage AdviserYou 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.0
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Thanks for that.0
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