Mortgage help

Sncjw

Hi

I am looking to buy my first home with my partner. We are looking at a house in a few days that looks reasonable and priced at 88k.

Now he is working part time only earns around 9k a year. He is currently looking for work and he hasn’t been able to save due to having to pay board at his mothers and pay his car running costs. So could we apply and use the payslips from his current job as he would need 8 weeks of payslips and his pay fluctuates depending on how many hours he gets a week.

I have the savings and I am happy to put down the money for the deposit. I can just about afford to get the mortgage based on calculators but not garunteed that amount and there’s not much wiggle room. If I put his wages down the amount goes up to a better amount and more breathing space.

Now I also have recently been awarded pip benefits and I have put the back payment into an account I’m using for savings. I will also be using the regular payments at savings as I heard I am allowed to do so. Il be putting £200 a month into my help to buy isa and the remaining amount into the savings. If I get my own home I will be able to adapt it to my needs more than I can do in a rented flat. Do I have to declare I have pip despite my award running out in 2022. My mother says I shouldn’t we forget I’m not garunteed to always have it and that’s true. If I did declare it then the calculator goes up by 40k. Which is a big help.

I want to apply for the aip correctly so there’s not many credit searches on our files.

Thank you

Moneyminded

I would suggest speaking with a broker who will be able to go through the detail of your particular circumstances and which lenders will be best suited to your needs.

ACG

You will be able to do this jointly. How your partners income is assessed will vary from lender to lender, some will want 3 months payslips, others 6 months and others 12 months.

On a side note, first time buyers where everything is a little one sided and potentially a bit tight have you thought about applying in your name only if it passes affordability? Your partner can still move in and contribute towards some of the bills, but at least if it does not pan out you are both free to move on.

Sncjw

I’ve spoken to nation wide on chat and they have been so helpful clearing things up. We are going to go ahead and do the aip

Sncjw

After a lot of questions we went with nationwide and got a dip. Plenty of money to play with and we don’t need to spend near the top anyways.