2 jobs and mortgage

Haz29

Hey all
I have(will be having) 2 jobs
Sunday-thursday
2 days one job
3 days the other job
I was wondering when getting a mortgage do they take both jobs into account the total annual income for both jobs to decide how much they will be lending?
Thanks

chelseablue

When I purchased my first place in 2010 I had 2 jobs, worked full time Monday to Friday, then on 2 evenings a week and Saturdays I worked in a supermarket.

When I applied for my mortgage I told them about both jobs and they asked for payslips from both

Alarae

I have just secured a mortgage on a full time job and a second (zero hour) part time.

Make sure if you are not using a broker that you select a lender that will take 100% of second job income, as some will only take a percentage or will take the lower of your last p60 or annualised amount. The intermediary websites of the lenders normally publish their income criteria there.

Also, some will only consider a second job if it is in a related field to your first job.

As long as you choose the right lender and hit affordability, you should be okay (subject to credit scoring by the lender).

MortgageMamma

All lenders have a different stance on this, and the fact you have two jobs is just one small piece of the puzzle when selecting the right lender.


There are lenders who would consider taking 100% income from both jobs, but you'll need a bit of employment history with both jobs showing regular hours.

Haz29

Anybody know which lender take 100% on both incomes?
Is 3 year employment and 3 months on other enough although wage increased on last month on 2nd job

Haz29

Would it matter if their are 2 applicants with same jobs

MortgageMamma

Hello

Not possible to name lenders as there are too many other variables that could discount a particular lender for your situation.


Some lenders will accept three months or less in a job if you are not in a probationary period and its permanent. It also helps if you've worked in the same type of work previously.


The three years in your other job will be fine.


You need to discuss your situation in more detail with a whole of market mortgage adviser. They will be able to look at your whole situation and tell you what the likelihood is of getting a mortgage, or if you need to wait a while longer, and what will be required when you apply for the mortgage itself. They will, when you are in the right position to buy, be able to recommend a specific mortgage lender and a product that suits your needs.


A mortgage is a huge financial commitment, its important to get it right first time.

MM