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Ftb needing help!
Thebray
Posts: 1 Newbie
I am a 45 year old Ftb with a salary income of 20k and other income of 30k(dla/child tax credits etc) and have just been approved for a mortgage in principle with my bank. Unfortunately instead of using 50k income they have capped the other income to the same as my salary giving a lower figure of 40k for the calculation which is lower than I was expecting. Is this cap fixed for all lenders? I want to speak to a broker very soon but anyone here have any advice please!
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Comments
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No. It isn't.Is this cap fixed for all lenders?
Some lenders accept an element of some state benefits.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.0 -
what is a ftb?Debt is a symptom, solve the problem.0
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I assumed 'first time buyer?'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.0
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I did check on
https://www.acronymfinder.com/Slang/FTB.html
but I assumed they did not mean what it suggested !Debt is a symptom, solve the problem.0
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