FTB mortgage application - employed by partners business

XEO25

Hello

I've searched MSE / Google for an answer on this but was unable to find anything.

My partner is looking to apply for a FTB mortgage. She has been in her current job, earning 35k, for 10 months, working for my business as a normal employee. She doesn't have share options or anything like that, she's just an employee (and it's her actual job, 9-5, Mon - Fri), and of course has bank statements to show the regular monthly salary from the last 10 months.

Would the fact that she works for her partners business have a negative impact on her mortgage application? Does she have to declare her employer is her partner?

Thanks very much to anyone who can advise.

ACG

Are you going on the Mortgage?
If not, should be fine - although some lenders do ask if you work for a family members business (I am not sure how they would expect partner to be declared in such a scenario).

If a joint application, some lenders will be fussier than others. Some will not care at all.

XEO25

ACG wrote: »

Are you going on the Mortgage?
If not, should be fine - although some lenders do ask if you work for a family members business (I am not sure how they would expect partner to be declared in such a scenario).

If a joint application, some lenders will be fussier than others. Some will not care at all.

Thanks very much for the quick response. No, I will not be on the application, it will be single application in my partners name.

kingstreet

Will you be residing in the property?

Will you be contributing to the deposit?

XEO25

kingstreet wrote: »

Will you be residing in the property?

Will you be contributing to the deposit?

Yes, I'll be living in the house.

No, she has her own deposit.

Is this likely to be an issue?

Thanks

ACG

Probably not, but best to run it by the lender before applying.

Whenever I see a new customer, we complete a "factfind" this factfind contains all of the information to make an application. As I go through this form, if there is anything that could cause a problem, I write it down. Then when doing the research with the lenders, I run through the list of issues.

I find it a good way to ensure applications are not going to get declined. This is one of things which is easy enough to overcome but worth checking.

amnblog

Expect the Lender to want to see the business accounts and your partners payslips and bank statements.

They will want to establish that the employment is genuine.

kingstreet

amnblog wrote: »

Expect the Lender to want to see the business accounts and your partners payslips and bank statements.

They will want to establish that the employment is genuine.

Possibly letter from Accountant to confirm her income is sustainable?