Can i get the mortgage ?

sadia85

I am looking for buy 3 bed house in East london or surrounding up to 230k, but i have 30K in hand and i earn around 25k a year.

Can i get the mortgage ? based on my deposit and salary.

My second question is regarding the joint application, my partner earns around 40k a year but can i make any clause on the mortgage papers that house will be on my name only or something, that i will be liabale for the mortgage payments etc.

Does it make sense.

Please advice.

ACG

You would not be able to purchase solely in your name as your income is not enough.

You should be able to do a joint mortgage, but you could not say you will make the payments solely - if you do that, that is fine but the lender would expect your partner to make the payments if you did not.

You could put the deeds of the property to be 99% yours and 1% your partners if they are in agreement. Might be worth speaking to a solicitor.

dimbo61

Most lenders look at 4X Income plus deposit so YOU can borrow £100K
Your partner would need to be on the mortgage and deeds to be included on the amount you can borrow

Thrugelmir

sadia85 wrote: »

I am looking for buy 3 bed house in East london or surrounding up to 230k, but i have 30K in hand and i earn around 25k a year.

Can i get the mortgage ? based on my deposit and salary.

My second question is regarding the joint application, my partner earns around 40k a year but can i make any clause on the mortgage papers that house will be on my name only or something, that i will be liabale for the mortgage payments etc.

Does it make sense.

Please advice.

Makes sense. But is totally unworkable. You'll need to go back to the drawing board.