HELP! First time buyer, applying with bf who has no earning but most of deposit.

Hotwax

Hello all,

I’m trying to apply for a mortgage with my boyfriend who is a musician. As he’s been off the road for a few years, his earnings are currently zero however most of the deposit is coming from
his savings and inheritance from his father.

I work at a well paid job and have been there for the last 6 years so the mortgage will be based on my salary, however I’ve gone down to 3 days a week as I’m studying part time. So I’m taking home a bit less than I did previously.

Our broker has dropped off the face of the planet so firstly im wondering whether I should give up trying to buy, quit my job and go travelling for a few months, or persist with a new broker or just go straight to the bank. I know we’ll be able to borrow enough to afford where we’re moving to, it’s just a sticky situation with my bfs current lack of earnings. Also, I hate my job and want to quit anyway, as soon as we’ve got the house. I just don’t think I can wait 6 months and counting to do so.

Any advice/tips would be greatly appreciated. If there are any Mystic Megs out there who can tell me what to do that would be great. Especially with Brexit looming around the corner...:eek:

Thanks!!

ACG

Joint Mortgage, his income will be £0, yours will be whatever it is.
Your lending amount will be based solely on your income but the fact yoru partner earns nothing is not a problem providing it passes affordability.

butterflybook

Your BF being party to the mortgage and supplying the deposit is no problem, joint application will be based on your income and if it fits affordability they your fine

Obviously if your thinking of leaving your job it may not be the best idea to get a mortgage