Applying for Mortgage - Know that there will be a change in circumstances

screamingaddabs

Hi Everyone!

My wife and I have a tricky situation trying to get a mortgage.

I currently work full time for just over 30k and she works half time for 20k. We are looking to buy for the first time. My wife however wants to stop working and be a stay at home mum. I know that I will be offered a pay rise (to just shy of 40k) in a few months time.

So basically, the mortgage we would be looking to take out would probably be absolutely fine on our current combined salaries and would be absolutely fine on my new salary on its own.

HOWEVER, for personal reasons we want to move in the next three to four months, so we would need to apply for the mortgage now. That means applying on our joint salary. My wife would need to work three moths notice so she would then have to hand in her notice pretty promptly.

I will not be signing a new contract for a good few months (probably 3-4 months).

Is it possible to get the mortgage on our combined salaries even though my wife will be working her notice when we need to finalise the mortgage?

We really don't want to wait the three to four months that it will take for my new contract and salary to come about.

Thanks for any advice!

em_9187

no, you will have to declare any changes that take place. She could resign the day after completion, not before.