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FTB mortgage advice needed

sap789
sap789 Posts: 10 Forumite
in House buying, renting & selling
My husband and I have just had an offer accepted on a house. About a month ago before we started looking, we got an AIP from the bank my husband works for.

The issue I have is this: I have only been in my job since July and my husband got a promotion at work that hasn't been reflected in his wage slips yet. With the AIP we already have, for the mortgage application I just need to provide 1 months wage slip, and my husband the letter confirming the new salary.
We saw a mortgage broker today who provisionally looked at mortgage arrangements and found much better deals with other lenders. Will other banks accept us though in our situation? We are looking to borrow 80,000 under what our AIP is for.

Comments

  • Strummer22
    Strummer22 Posts: 727 Forumite
    Ninth Anniversary 500 Posts Name Dropper Combo Breaker
    sap789 wrote: »
    We saw a mortgage broker today who provisionally looked at mortgage arrangements and found much better deals with other lenders. Will other banks accept us though in our situation? We are looking to borrow 80,000 under what our AIP is for.

    If the broker knows your situation he'll find lenders who will take you on. Make sure your broker does know that there's limited history of income.
  • sap789
    sap789 Posts: 10 Forumite
    Thanks.

    We did tell her when we saw her but she didn't comment. Don't want to pay the broker the fee if she won't be able to get us a mortgage!
  • kingstreet
    kingstreet Posts: 39,335 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Yes.

    Other banks (and building societies too I'd imagine) will accept your situation.

    It's actually quite normal/frequent someone getting a new job or a promotion.
    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.
  • hazyjo
    hazyjo Posts: 15,475 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Is this through an EA?

    I was under the impression most brokers obtain their commission through the mortgage provider, not you. EA ones often charge you a fee and are generally to be avoided.

    Jx
    2024 wins: *must start comping again!*
  • sap789
    sap789 Posts: 10 Forumite
    Yes, we got the hard sell from the EA when we went in to confirm id etc.
  • sap789
    sap789 Posts: 10 Forumite
    Hopefully its not an issue. No one has mentioned it being one, just been looking things up online and getting myself stressed.
  • hazyjo
    hazyjo Posts: 15,475 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    sap789 wrote: »
    Yes, we got the hard sell from the EA when we went in to confirm id etc.

    Okay, I won't bang on as the horse has seemingly already bolted ;) But it's not generally a good idea.

    You want an 'all of market independent broker'.

    Good luck :)

    Jx
    2024 wins: *must start comping again!*
  • sap789
    sap789 Posts: 10 Forumite
    Its not bolted yet! Offer only accepted Friday.

    Thanks for your help
This discussion has been closed.
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