Will two part time jobs affect mortgage application?

soapstar88

Hi folks,

So bit of background first...Me and partner bought our first house 2 years ago, at that time we were both in full time employment with a large company, myself being employed there for 3 years and my partner around 2 years. Getting a mortgage seemed to be a very simple process and all went well thankfully!

Now fast forward a couple of years we are thinking of building our own house. Now here's the catch, I am currently thinking of cutting back hours in my full time job (been there 5 years now) and working part time so I can work for a family business owned by my parents. Now this means I will then have 2 part time jobs with an income of around the same as I did previously working at my full time job.

The question I would like to know the answer to is how is this going to affect our chances with getting a mortgage (self build)? If all goes to plan (fingers crossed) we could be ready apply for a mortgage in around 1-2 years time.

Perhaps someone else has been in a similar situation out there!? thanks for any help in advance

kingstreet

Having two jobs is neither here nor there, as long as the hours do not look too onerous over the longer-term.

Expect increased scrutiny because one of them will be working for a family business.

soapstar88

kingstreet wrote: »

Having two jobs is neither here nor there, as long as the hours do not look too onerous over the longer-term.

Expect increased scrutiny because one of them will be working for a family business.

Thanks for your help kingstreet. Can I ask what kind of scrutiny I will likely receive as I am working for a family business? What would be the typical things they will ask?

kingstreet

As the payslips can be easily manipulated, you will be asked for details of the business and possibly an accountant's certificate or letter.