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Contractor mortgage - can we "ignore" my income?

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Contractor mortgage - can we "ignore" my income?

edited 30 November -1 at 1:00AM in Mortgages & Endowments
1 reply 355 views
nottonight_josephinenottonight_josephine Forumite
4 posts
edited 30 November -1 at 1:00AM in Mortgages & Endowments
Hi there - we are currently looking at remortgaging our house to get a lower interest rate. OH is full time employed and I'm an IT contractor, which is where my question arises - I know being a contractor limits the lenders/products available to us somewhat, but am wondering whether this is still the case given that OH's salary is actually enough to cover the mortgage on his own (just over 50% LTV and the amount borrowed would be just over 3 x his income). Both have good credit histories, no dependents.

Can we therefore just apply directly to the deal we want (which is with Barclays) on the basis of his income and not worry about mine or is this more complex and we therefore need a broker?

My current contract has 4 months left to run but I've been in contract continuously for around 2.5 years and before that was doing a similar role but on a permanent employment basis.

Thanks :beer:


  • ACGACG Forumite
    20.6K posts
    Tenth Anniversary 10,000 Posts Name Dropper I've helped Parliament
    If your income is not needed it can be ignored.
    I am a Mortgage Adviser
    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.
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