Husband's income regular but not guaranteed - will we get a mortgage??

Nick_C

My partner is in a similar position. University Lecturer. Been on short term contracts for 8 years, 3 different employers. Contracts range from a day to 8 months.

We got a mortgage directly from Santander. Give them a try. We showed 3 years P60s, copies of all the contacts, payslips, and supporting letters from the employers. The mortgage advisor in the branch was great but it had to go to the underwriting team for authorisation.

CuteMole

Thanks for the advice.

Interestingly in the first conversation I had with L&C adviser he did mention Santander might be ok with zero hours contracts.

If L&C come back with recommendations I'm guessing we're not obliged to go ahead with any of them? Could we then still go direct to Santander? Or would a credit search have already been done and therefore be on our files? and would that matter?

Face-to-face meeting with a mortgage adviser might be what we need. Haven't tried a local broker yet - was starting with the 'fee free' option but maybe with our circumstances a broker fee would be money well spent.

Malmo

My advice, reinforcing nic_c, is to engage a smaller broker, who may charge a fee. However, such a broker doesn't have to be local as contact can be by phone & email.
Will PM you with more detail.

Note that L&C tend to DIP without a credit search, based on information you provide. So I'm not sure whether that would be of any use given your circumstances, which may not be accurately represented as part of the DIP.

cyantist

We got our mortgage with Santander this year and they gave us the same joint salary multiple as you would need if you took out a mortgage based solely on your earnings.

You said before you had £35k deposit, if you put all of that down plus the money you had saved for fees (and added fees to the mortgage like we did), then you might not even need them to consider all of your husbands income.

By the way we started off going with L&C and they were absolutely useless and wasted literally months of our time and nearly cost us the house purchase. We went direct to Santander, explained the problem and they rushed it through and were great.

CuteMole

Thanks guys!

Still haven't heard anything back from L&C - are they likely to phone with recommendations or e-mail? (adviser said he would work on it last night as he was working till 8pm)

Malmo - thanks for the PM, I will follow that up.

Do you think I should go in and see Santander? Could I do this before telling L&C to 'get lost'?!