Lenders least picky please

adrian84

Hello, i applied lastbyear with my wife for a mortgage, me self employed with income for las years 14k 18k 24k and her was full time employed 

[Deleted User]

You need to see a broker, but you'll have to give them a lot more information that you have here.

Income is only one factor.

adrian84

adrian84 said:

Hello, i applied lastbyear with my wife for a mortgage, me self employed with income for las years 14k 18k 24k and her was full time employed 

Earning 20k a year, 1 child one loan 190gbp/month, got offer from santander very nice and easy, i really loved how santander did all thr things, this process started in may 2019, after 5 month found a different house, changed the property on offer and didn.t requested for anything else, after 3 months seller pulled out and offer expired we couldn.t find anything else suitable and decided to wait. Meanwhile i got oportunity to become full time employed  in june last year with 32k salary and my wife reduced her hours so we don.t pay childcare and now earning 12k a year roughly we are in same earning band 44k but from full time employment now.
I also had earnings from self employment last year and still do a little part time, profit for 2019/2020 is 5k and i expect simillar for this year, i recieved 3.4k just thr grant plud whatever work i do from time to time.

I am looking for ideally a 10% deposit mortgage with an "easy" lender my thought would be santander but they have only 15% also i would like to use full time and self employment income and my wife.s income and ideally above 4.5 multiplier. Is there any chance to achieve this? Or at least 4.45 but with all incomes not just the employment ones?
Also on 15% deposit would i get better results? As in maximum amount i could loan and easier lending criteria?

Thank you

foxy-stoat

As above, give a broker all your details and they will be able to direct themselves to the right lender to get you want you need.  Coming on here and asking who to go to for a mortgage maybe be money saving but you will be shooting in the dark.

Good like.

adrian84

Sorry i accidently pressed the post button, i could also wait for better future as santander over 45k a year used to have 5x multipplier or wait to see when lenders will be more eager to lend. Our credit score is perfect all the way.

foxy-stoat

Sounds like you want to go to Santander.
As for building your credit file once your DMP is over, get a credit card to pay for your fuel and clear it once the statement comes in.  Do that every month and you will have positive marks on your credit file - ignore the score when you see it.

adrian84

I would love to compare couple of opinions not just one broker as to check also for myself not to take for granted what the  boker is saying, but if more are saying the same that must be it. Also i would love around 220k to borrow so nit to many option so maybe i have to push for 15% but for example if the lender is the same, that means he is having the same criteria and is picking on things in the same way so no point on spending extra 12k on deposit when i can invest that money and get better return.

adrian84

I don.t want to go as a must with santander as they don.t have 10% deposit, also the broker maybe had 0 cases like mine lately so that.s why i decided to initiate this talk here, to see through your eyes and everyone.s experience which lender is more keen to lend and give more money, easier and also take the self employment income in consideration with all this covid times.
This can save me a lot of time going through barclays for example instead or hsbc or the other way around.

amnblog

You are not going to get 'easy lending' with a 10% deposit. The smaller your deposit, the more difficult it is to get accepted and the less generous the affordability calculation.
Assuming you can get a better direction on here than by using a Broker is a mistake.

adrian84

Ok, i see your point but  i believe there are good brokers and bad brokers, i am just affraid not to get a bad one so it was worth it also to check here and see opinions.
I already paid a broker which i was happy with previous application but seller pulled out, my circumstances changed and now he wants another payment which i believe it is not fair.

[Deleted User]

No way is this a DIY application 
Im not a mortgage broker 
I know a hell of a lot about mortgages, have fantastic credit history and fully aware of the conveyancing process etc ..... I wouldnt even dream of applying for a mortgage without a broker and most especially if I had “credit history”