First Time Buyer - Commission Based Mortgages

jcredi

Hi all

i am in the process of saving for a deposit in order to purchase my first property along with my girlfriend.

She has a stable, regular income as she is a teacher. however, i work as a salesman who earns a basic rate, with a load of commission on top.

The question i have ( and wondered if anyone could help with this ) is that due to the nature of my pay, is it going to be difficult to get a better rate, or even a mortgage at all and are their lenders that would take a more relaxed view on it given that my annual figure is increased by about 15-20k on top of my basic?

Will be discussing with an IFA in the near future, but wanted to see if anyone had any advice of recommendations before doing so

many thanks - Jon

kingstreet

There are lenders who take a flexible approach to variable earnings and the longer you can evidence receipt, the more you'll have in your potential lender pool.

amnblog

If you get commission every month, that helps.

If you have two or three years track record in the job that also helps.

What helps most is using a good Mortgage Broker.