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Mortgages based on affordability?
katepnlo
Posts: 391 Forumite
Who does mortgages based on affordability?
Situation:
married own our house on a mortgage with Halifax.
Self employed (when we look at selling this for our next house we will have 4 years accounts)
a* credit ratings
Thing is as with alot of people our accounts don't reflect our true income.
We take a fixed wage without fail for both of us,hubby 'employs' me.
we also have child benefit, child tax credit,carers allowance and a level of DLA due to my daughters genetic 'issues'.
We hadn't considered counting it before but now she is getting older and have other children we feel she needs her own room and our oldest needs one too due to moving up to secondary/grammar in september,
I know of The mortgage works but who else?
Would Halifax consider it? when we went for this mortgage they knew our situation but due to long banking history and spotless credit rating we didn't have to show anything to get the mortgage.
We have no debt except our current mortgage.
kate
Situation:
married own our house on a mortgage with Halifax.
Self employed (when we look at selling this for our next house we will have 4 years accounts)
a* credit ratings
Thing is as with alot of people our accounts don't reflect our true income.
We take a fixed wage without fail for both of us,hubby 'employs' me.
we also have child benefit, child tax credit,carers allowance and a level of DLA due to my daughters genetic 'issues'.
We hadn't considered counting it before but now she is getting older and have other children we feel she needs her own room and our oldest needs one too due to moving up to secondary/grammar in september,
I know of The mortgage works but who else?
Would Halifax consider it? when we went for this mortgage they knew our situation but due to long banking history and spotless credit rating we didn't have to show anything to get the mortgage.
We have no debt except our current mortgage.
kate
0
Comments
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C&G (as long as you see the right person), Standard Life Bank, IF, and Halifax (as per C&G). However lending criteria seems to be a bit tighter than a week ago
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If you are only thinking about next year, then - bizarre as it sounds - consider taking on some small debts now, to imprvoe your credit profile. Too lilttle credit is as bad as too much credit.I am a Mortgage adviser
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.0 -
If it is any use i have a Tesco cradit card tht i buy shopping and petrol on each week (bout 80-90 a week) and then transfer the money straight over from our bank so we can earn Tesco club card points. Will this help?0
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Yes! Making purchases on a credit card and paying it off in full is good for your credit rating!0
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Check out AbbeyI am a qualified Financial & Mortgage AdvisorHowever,anything posted on this forum should not be considered financial advice. What is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from a registered Financial Adviser who can advise you after a personal fact find.0
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