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Mortgage application and Furlough payment
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tattybye
Posts: 70 Forumite


Just curious as we are at the point of going for the Agreement in principle or was planning to in May, My partner has now been put onto the furlough payment scheme but will still have his job to go back to after all of this is over and done with. (whenever that may be).
Will the mortgage lenders look to go from the last 3 months (which will be his 80% pay) or would they use the last 3 wage slips prior to the furlough payments?
I realise it may be a hard one to answer as there is so much uncertainty but any thoughts or help appreciated.
Will the mortgage lenders look to go from the last 3 months (which will be his 80% pay) or would they use the last 3 wage slips prior to the furlough payments?
I realise it may be a hard one to answer as there is so much uncertainty but any thoughts or help appreciated.
1
Comments
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An AIP is not a mortgage offer. It's just an indication of what you could potentially borrow. When submitting the application you'll be subject to the lenders criteria at the time. Given the severity of the current situation. Far too early to predict ahead. May currently seems somewhat optimistic for a fully functioning property market though.1
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Thrugelmir said:An AIP is not a mortgage offer. It's just an indication of what you could potentially borrow. When submitting the application you'll be subject to the lenders criteria at the time. Given the severity of the current situation. Far too early to predict ahead. May currently seems somewhat optimistic for a fully functioning property market though.
Thanks for replying1
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