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Nationwide MTG calculator
missyp123
Posts: 564 Forumite
My husband will be the main applicant when we get to the point of applying for a MTG using NW.
I have inputted the same info on the online affordabilty calculator but in two different ways. Both come up with different amounts we could possibly borrow.
A: using hubby and myself both as applicants...myself being unemployed and just the child benefit as additional income =£135k
B: using hubby as the only applicant with child benefit under his additional income and myself added in the dependants section along with the kids = £150k
Which way will we actually be expected to apply when i currently dont work?
Any advise would be great so we can get a rough idea of what is more likey
I have inputted the same info on the online affordabilty calculator but in two different ways. Both come up with different amounts we could possibly borrow.
A: using hubby and myself both as applicants...myself being unemployed and just the child benefit as additional income =£135k
B: using hubby as the only applicant with child benefit under his additional income and myself added in the dependants section along with the kids = £150k
Which way will we actually be expected to apply when i currently dont work?
Any advise would be great so we can get a rough idea of what is more likey
0
Comments
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This will depend largely on the source of your deposit and how you document it.
If any of it is yours and you are not a mortgage applicant/purchaser, you will need to gift your share to the other applicant.
I would prefer to be an applicant and owner as the administration is a lot easier if one of you dies.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thank You for your quick reply and advice kingstreet.
The deposit is just our own savings.
Although were married we would'nt like any problems if anything did happen
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