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New affordability rules and second jobs
Doc_Hollywood
Posts: 1 Newbie
Does anyone know how the new affordability rules work when you have a second job?
I have two jobs, one is a permanent position paying me £16300 a year and the other is a temporary role that pays almost the same. My permanent wage covers all of my financial commitments. I use the wages from my temporary job to pay for luxuries and non essential items plus I'm saving most of it to top up our deposit.
My partner and I have a mortgage in principle and I declared only my permanent wage when applying for this. My concern is that when the mortgage lender scrutinises my bank statements they will see that my outgoings are more than my permanent in comings. Will we be penalised for this or will they only compare incoming money with our financial commitments?
I have two jobs, one is a permanent position paying me £16300 a year and the other is a temporary role that pays almost the same. My permanent wage covers all of my financial commitments. I use the wages from my temporary job to pay for luxuries and non essential items plus I'm saving most of it to top up our deposit.
My partner and I have a mortgage in principle and I declared only my permanent wage when applying for this. My concern is that when the mortgage lender scrutinises my bank statements they will see that my outgoings are more than my permanent in comings. Will we be penalised for this or will they only compare incoming money with our financial commitments?
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