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remortgage new sticky situation help needed
moneypenny10
Posts: 8 Forumite
Our 2yr fixed rate mortgage runs out 31/12/07 the problem is when we took this mortgage out I was working since then I have had a baby and I am not at work. So we only have my husbands income to work off.
Husbands income 21350
remortgage we need 121027 this is more than 5x his income
We would need to show an income of 24200 to get a 5x remortgage this leaves us 2850 short.
He is a carsales man so much of his income is made up of commission and bonus he could well earn the extra 2850 but we cannot show this. We also have tax credits we could add.
Does anyone know of any mortgage compaies who will accept us have heard of self cert and mortgages who dont account your income but look more at your affordability.
Really panicking that we have a problem any help appreciated.
have thought of contacting our current mortgage company for a new quote will they ask for our current income details?
Husbands income 21350
remortgage we need 121027 this is more than 5x his income
We would need to show an income of 24200 to get a 5x remortgage this leaves us 2850 short.
He is a carsales man so much of his income is made up of commission and bonus he could well earn the extra 2850 but we cannot show this. We also have tax credits we could add.
Does anyone know of any mortgage compaies who will accept us have heard of self cert and mortgages who dont account your income but look more at your affordability.
Really panicking that we have a problem any help appreciated.
have thought of contacting our current mortgage company for a new quote will they ask for our current income details?
0
Comments
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If you ask for a new deal with your current lender (product switch), and you do not change the mortgage figures, they do not tend to ask for any extra information.
There are plenty lenders that will take into account tax credits etc.I am a Mortgage AdviserYou 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.0 -
thankyou for replying I will give this a go and contact our current lender fingers crossed they won't ask for our figures.
Do mortgage companies take account of child benefit I was presuming they didn't. But was wondering as many accept tax credits.0
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