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A mortgage that takes into account commissions??
confusedhan
Posts: 1 Newbie
Hi everyone
I'm really new to this and looking at buying for the first time. I have a gross income of 35000 and my boyfriend has a basic salary of 45000 with commissions of around 75000 on top. We would like to borrow around 300-325,000 but have found that most places will only stretch to around 270000, not really taking his commission into account.
He has P45s to demonstrate this level of earning for over 5 years.
Would anyone be able to recommend a mortgage provider that might be more sympathetic to the situation?
Thank you, any advice gratefully received!!
I'm really new to this and looking at buying for the first time. I have a gross income of 35000 and my boyfriend has a basic salary of 45000 with commissions of around 75000 on top. We would like to borrow around 300-325,000 but have found that most places will only stretch to around 270000, not really taking his commission into account.
He has P45s to demonstrate this level of earning for over 5 years.
Would anyone be able to recommend a mortgage provider that might be more sympathetic to the situation?
Thank you, any advice gratefully received!!
0
Comments
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Plenty lenders will offer 4 times joint income provided you have a good credit score.
Do you have any other credit cards/loans/HP agreements in the background?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 -
Nationwide can work on P60 figures - most lenders would take at least 50% of his commission if it's shown to be regular.
Obviously exact lending figures depend on how much depoist you have, and whether you have any other credit outstanding.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
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