Can't get a mortgage due to one of us not earning

purplestar133

ACG wrote: »

Why has she done a DIP with halifax if they wont lend you enough... that just a waste of her time. she could have just looked at your credit report to determine how good of a risk you are.

Also you do not have 1 go at making an application. If you are declined you find another lender. You can normally have 2-3 attempts before it starts to reflect badly.

Can I suggest you find a new broker?
Different ways of doing things but this just seems unusual.

I asked her to as we had a deadline for a final offer and needed to include an AIP. I also wanted a soft search as I was concerned that I might need another AIP due to the length of time it would take me to find a house.


In our initial conversation she was a bit put off when I told her about my partner not earning but when she heard of our 60% deposit she didn't think it would be a problem for us to borrow 57000.


Are there particular lenders that would be more amenable to our situation?


I can understand that a lender would wonder how I can afford to support two people on that wage, but I can and I have done it and still managed to save £30,000 so I'm quite upset that I can't get any credit for that! I'm not borrowing a lot.


The chances are slim that my partner will ever earn regularly, or enough. He is an illustrator and has a couple of projects here and there, he does make a tiny bit of money sometimes, but it's just pocket money really. We've never declared it for tax as it is nowhere near enough. That is my next project - to start doing that so there are some records of him earning, no matter how little.

byjimini

Well it's maybe crunch time, that he needs to set it aside as a hobby and do it in his spare time, and find some regular employment.

At the end of the day, what is more important? The mortgage or the illustrating?

I play music myself, however it got to the point where it was never going to make enough even as a part-time job, so unfortunately it now plays second fiddle to my full-time job. Otherwise I'd never be able to move in life.