just some info please about mortagages

phil22

We are looking at buying a home with baratt and they have given us a mortgage advisor, who today offered only precise mortgages ( my partners credit history issues not mine) so while we were happy to get a offer, would it make a difference getting a second opinion by another mortgage advisor? so gutted as the house we wanted is only 10,000 off what we have been offered, yet they didnt include a second job my partner has because he has no payslips for it, could we just ask for payslips as it is a cash in hand job, but that should then take us to the amount that we want?
Thanks

David_White

It couldn't hurt getting a second opinion as the rates with Precise are fairly high and your adviser may have jumped the gun at the first mention of adverse credit.

1) Why doesn't he get payslips
2) Does he pay tax on the cash in hand job

phil22

He does pay tax yeah every year he does a tax return. What about tax credits do they count?
I did send her the credit file as my partner does have a ccj from last year.

David_White

If he's doing a tax return then Precise wouldn't need payslips for that role, they'd need proof of his self-employed income generally in the form of an SA302 and Tax Overview Summary.

They would also accept Tax Credits in the application which should bump up the amount you can borrow.

Doesn't sound like Barratt's in house adviser has done you any favours here!

phil22

Really, ok we will get onto that today? Any orhers mortgage advisors you can advise? Iv saw which?

Thrugelmir

phil22 wrote: »

I did send her the credit file as my partner does have a ccj from last year.

This will have a considerable impact on available options.

phil22

Yeah she said precise main option but if there not taking into account tax credits that could mean that extra bit we need.

David_White

With a CCJ last year Precise may not be a bad shout.

Tell them about the Tax credits and get them to add it in the application, hopefully that gives you the amount you need.

phil22

Our advisor says precise dont even take into account tax credits, we still need the advisor to come out and go through our payslips and bank statements etc. So its a mortgage in principal, but i really hope it gets fully accepted.

cahillg81

Precise will take working tax credits as long as the award letter indicates more than 3 years to run. I have a case going through just now were they have refused to used WTC/CTC because the award letter only confirms 24 months.

phil22

Yeah well hes just started getting them now this year i think so should have a while to run.