Mortgage application when wife will be changing jobs

matt198

Hi,


Just after some basic information. Im in the armed forces and live in forces accommodation with my wife and 2 children.
We were thinking of buying almost two years ago, but then we found out we were expecting 2 boys and so postponed it.


We are looking to buy back where our families live, and because that's over 200 miles away from where we currently are, my wife will have to quit work.


My question is:
If we start the mortgage application with my wife securing employment back where we want to move, would that effect things too much?
- she has worked since leaving school and doesn't have any gaps in employment.
In other words, applying with say a offer of employment letter?


The reason I'm reluctant to apply right now is because although she has a great job, we pay a fortune in childcare which wouldn't be the case after we buy and she moves back.
And adding the childcare (average £1300 a month) in mortgage calculators puts a huge dent in how much of a mortgage we could potentially get.


Plus we have a loan that's still got 2 years left on it that's £250 a month - no missed/late payments.
But its the childcare that's preventing us looking in the areas id like us to buy in.
And although childcare wouldn't completely disappear, it would end up being a couple of hundred a month as most the week both my mum and hers have said they'll look after them.
They both work part-time and want to help out.

kingstreet

Plan this with a broker and you can go over your "what-if" scenarios.

There are lenders who will lend to someone with a job offer and start date.

Obviously, you will need your base accommodation costs to be factored-in to affordability, as well as the reduction in childcare costs.

matt198

kingstreet wrote: »

Plan this with a broker and you can go over your "what-if" scenarios.

There are lenders who will lend to someone with a job offer and start date.

Obviously, you will need your base accommodation costs to be factored-in to affordability, as well as the reduction in childcare costs.

Thank you for your reply.
That's good to know, and once she sorts out another job we will get the ball rolling.