Halifax ...maybe ?!

Neilf05

Hi there new here!
I'm a sub contractor on Cis, boss pays my tax each month. I've been looking at Halifax mortgages and wondered if they take net or gross wage ? A lovely kind tax lady has mucked my yearly takings down from £60k to £30k so struggling to see who would lend me the £160k to change my mortgage. House is worth around £375k. I have one default on file at £20 for mail order which should be gone by August this year. The credit score isn't great from 8 years ago on mortgage arrears.
I have a credit card that I set the direct debt up to take full payment out each month, 3 kids. The wife doesn't work so am hoping she doesn't have to go on the mortgage as her file is real bad !
Any advice will be great :j:j

MortgageMamma

Hi Neilf05

going off what you are saying this doesn't look too good. Its not possible to say which lender would accept you based on what you say, but if you and your wife have adverse credit Halifax may not be the way forward. There are other lenders who will consider contractors with adverse credit - have you seen a copy of your credit report lately? it would be a good idea to get a copy off Noddle or Checkmyfile.com so you know what the score it, it will make it easier for you to get the mortgage right first time.

Your situation isn't straightforward, so you would benefit from seeing a mortgage advisor/broker who will be able to find the right lender for you - taking professional advice now could save you a lot of money and hassle in the long run.

Neilf05

Thank you.

Yes I've check a few of them and th only thing sitting on the file is the 1 default for mail order £20. Everything else is fine, just working back up to a goodish rating as that's why it's sitting at the mo.
A few years ago we tried a adverse one but because of the sa302 saying lower income they wouldn't offer it of course!
We will just sit tight a little longer and await the default off file in August and his credit card coming out a few more times! Our mortgage expired 4 years ago so we can stay the same a little longer!
Just wanted to know if Halifax took gross or net pay on CIS

Thanks

amnblog

Halifax can treat you as employed if you have been contracting for a sufficient time and are not paid via your own Limited Company.

This does not mean however:

That your affordability will fit
That Halifax is the Best lending option for you

Engage an independent mortgage broker.