Getting a mortgage whilst on sick pay

Cloren89

Hello.
I am looking for some advice regarding getting a mortgage.
My partner has been off work since March due to a knee injury and will be off work until August as he has recently had an operation on it.
He is getting around £100 a week SSP and the rest of his wage is been topped up by his employer so is getting full pay for the duration (minus commission/bonus/overtime).
We recently went to our local bank to apply for a mortgage and all was
Going fine until the MA notices it says SSP on his wage slip(initially we were told it wouldn’t be a problem) . He said we wouldn’t be able to proceed with the application until he is back at work as worse case scenario there isn’t a recovery and would have impact on ability to pay the mortgage which is understandable.

I then cancelled a house viewing with the estate agent and explained the reason why to them. They then informed me that their in house mortgage broker/advisors would be able to get us a mortgage as they have lenders who would be willing to lend if we could prove from the doctor/employer that he will be returning to work.
Does anyone know if this would be a case? After what our bank said I am not sure wether to believe that they would be able to get us one with it saying sick pay on his wage slip. Also they charge £599 plus £99 admin fee for this service.
If anyone thinks we genuinely would be able to get a mortgage I’d prefer to go with an independent broker.
What are people’s opinions? Wait until he is back at work or try and get one now?
TIA

muhandis

In your place I would not use an estate agent tied broker, let alone one that charges £700!

Whether you choose to explore your options now or after your partner is back at work, do use a whole of market independent broker. The ones I’ve used have only ever charged a fee once they’ve found me a suitable product and I’ve decided to go ahead. Consultations have always been free.

Cloren89

Sorry I should have said the consultation Is free and wouldn’t t be charged £700 until a mortgage had been found.
Do you think £700 is a bit steep?
I have read that estate agent brokers are not a good idea but I think we were just happy that we could potentially get one now rather than waiting until August.

muhandis

Personally, I think £700 is very steep. The highest I’ve come across (not used) is £500 and this is for a broker with expensive office space in central London.

More importantly, if the estate broker can get you placed with a lender, so can a (hopefully cheaper) independent whole of market broker.

Cloren89 wrote: »

Sorry I should have said the consultation Is free and wouldn’t t be charged £700 until a mortgage had been found.
Do you think £700 is a bit steep?
I have read that estate agent brokers are not a good idea but I think we were just happy that we could potentially get one now rather than waiting until August.

Thrugelmir

Cloren89 wrote: »

they have lenders who would be willing to lend if we could prove from the doctor/employer that he will be returning to work.

How can the doctor/employer prove that he will return to work by a specified date?

Cloren89

How can the doctor/employer prove that he will return to work by a specified date?

This is exactly what I thought! How are you meant to prove that? This is why I’m thinking is it a bit of a scam to reel us in, take our money then be unable to get us a mortgage after all.

Cloren89

personally, I think £700 is very steep. The highest I’ve come across (not used) is £500 and this is for a broker with expensive office space in central London.

More importantly, if the estate broker can get you placed with a lender, so can a (hopefully cheaper) independent whole of market broker.

I had a mortgage broker 4 years ago who charged me £500 but I just assumed prices had increased. But yes you are absolutely right, if the estate broker could get us one then an independent one could too.
I guess I just want to know if anyone else has been in this situation before and managed to get a mortgage.