Moving home - Mortgage application query

dandy_s

Hi All


I wondered if there was anyone on here that could give me some advice.


My partner and I are looking to purchase a New Build property locally on the sale of my property. I have had an offer on my house so we now need to get the ball rolling on the new mortgage for the new build - we have somewhere to move in the meantime.


I currently earn £32,400 pa plus bonus (which I have stripped out of any affordability tests) however my partner works in hospitality, working approx. 25-30 hours per week on minimum wage at present. The problem is that technically it is a zero hour contract.


Sale price of the new property is £181,000 and via Help to Buy our deposit will be £9,050 and bank funding will be £135,750.


I have had Intention to Lend's based upon my sole salary, however I would prefer the deeds to be in joint names for obvious reasons.


My question is - will applying in joint names help or hinder our chances of getting a mortgage? Has anyone got any recent experience with NatWest in this respect (they have my current mortgage)? Also I have heard reports of lenders just checking wageslips, as opposed to contractual information - would you expect them to ask for sight of her contract?


Any suggestions or advice would be hugely appreciated!




Thanks in advance!!!!
dandy_s

amnblog

This looks very tight on affordability and the pool of lenders in the H2b equity market is slim. I think you need to engage a mortgage broker for this one, don't go direct.