Mortgage broker - ask me anything

trackboy

haras_n0sirrah said:

trackboy said:

haras_n0sirrah said:

trackboy said:

haras_n0sirrah said:

trackboy said:

haras_n0sirrah said:

trackboy said:

Hi,
I am currently in secure job on railway earning well over 50k. I have recently started a 2nd job working from home. I will be getting my first pay cheque from my 2nd job by end of October. 

I have seen a property that I like and have made offer hoping to be accepted. My question is during the times like now would it be possible to get mortgage using both my job. Are there any Lenders that will accept me with 10% deposit. 

Generally you will need 6 months in a second job before lenders will include it. How much do you need to borrow? Would it fit affordability on just the first job? There is a lender with 15% deposit who may include a second job with less than 6 months however it will be subject to a plausibility check (are the jobs in similar fields, are the hours in each job sustainable etc)

I will need to include my 2nd job to get the mortgage i am looking for roughly 400k figure. My 2nd job is flexible work from home so doesn't get in way of my 1st job. 6 months sounds like a lot. Is there no possibility of getting it with 1st payslip?

At 10% I think you will struggle - there just are so few lenders in that space. Have you got any possibility of getting to 15%?

No at most I could manage is 12%. My credit score is excellent will that help? Also my first job I am getting promoted within 3 months times. Which will boost my salary to 60k for my first job.

I have had a look - with the lenders currently doing 10% you would need to have had job 2 for 6 months. There is a possibility though of using a payrise if the employer will confirm it in writing and it is due to start within the next 3 months

Yeh I can get that in writing that should not be problem. Does that mean I can use my 2nd job with 1 payslip and 10% deposit.

You won't be able to use your second job unless you can get a 15% deposit. All the 10% lenders have a 6 month in second job requirement.
If you can get confirmation of your payrise it is possible you can use your higher income in job 1 but you still won't be able to use job 2

That's bad news for me I will be missing out on stamp duty relief. Is there no way out of this?

des01_2

haras_n0sirrah said:

des01_2 said:

Hi, my partner is 56 and I'm 50, we have excellent credit reports, no loans, have 2 credit cards £0 balance so can close them, secure employment in these times (key workers) substantial deposit but told can only get 13 yr mortgage by our bank so our borrowing capacity reduced.  Good pension pots.  Any chance of ever getting a mortgage with longer term? Thanks

There are lenders who will go to 75 as long as you are currently paying into a pension and even 80 depending on your job 

Thanks for replying soo fast.. how and when can I book you for an appointment? I'm sure you have said in previous posts but too many pages to go back on.. 

haras_n0sirrah

des01_2 said:

haras_n0sirrah said:

des01_2 said:

Hi, my partner is 56 and I'm 50, we have excellent credit reports, no loans, have 2 credit cards £0 balance so can close them, secure employment in these times (key workers) substantial deposit but told can only get 13 yr mortgage by our bank so our borrowing capacity reduced.  Good pension pots.  Any chance of ever getting a mortgage with longer term? Thanks

There are lenders who will go to 75 as long as you are currently paying into a pension and even 80 depending on your job 

Thanks for replying soo fast.. how and when can I book you for an appointment? I'm sure you have said in previous posts but too many pages to go back on.. 

You just need to send me a pm through here and I will come back to you 

haras_n0sirrah

trackboy said:

haras_n0sirrah said:

trackboy said:

haras_n0sirrah said:

trackboy said:

haras_n0sirrah said:

trackboy said:

haras_n0sirrah said:

trackboy said:

Hi,
I am currently in secure job on railway earning well over 50k. I have recently started a 2nd job working from home. I will be getting my first pay cheque from my 2nd job by end of October. 

I have seen a property that I like and have made offer hoping to be accepted. My question is during the times like now would it be possible to get mortgage using both my job. Are there any Lenders that will accept me with 10% deposit. 

Generally you will need 6 months in a second job before lenders will include it. How much do you need to borrow? Would it fit affordability on just the first job? There is a lender with 15% deposit who may include a second job with less than 6 months however it will be subject to a plausibility check (are the jobs in similar fields, are the hours in each job sustainable etc)

I will need to include my 2nd job to get the mortgage i am looking for roughly 400k figure. My 2nd job is flexible work from home so doesn't get in way of my 1st job. 6 months sounds like a lot. Is there no possibility of getting it with 1st payslip?

At 10% I think you will struggle - there just are so few lenders in that space. Have you got any possibility of getting to 15%?

No at most I could manage is 12%. My credit score is excellent will that help? Also my first job I am getting promoted within 3 months times. Which will boost my salary to 60k for my first job.

I have had a look - with the lenders currently doing 10% you would need to have had job 2 for 6 months. There is a possibility though of using a payrise if the employer will confirm it in writing and it is due to start within the next 3 months

Yeh I can get that in writing that should not be problem. Does that mean I can use my 2nd job with 1 payslip and 10% deposit.

You won't be able to use your second job unless you can get a 15% deposit. All the 10% lenders have a 6 month in second job requirement.
If you can get confirmation of your payrise it is possible you can use your higher income in job 1 but you still won't be able to use job 2

That's bad news for me I will be missing out on stamp duty relief. Is there no way out of this?

How much do you need to borrow? 

obc18

We got our offer today and would like to give @haras_nosirrah a massive thank you for that. This year has been horrendous and we’ve had everything thrown at us, furlough, redundancy, adverse on our files.... just never thought it would happen for us. But she never flinched and we’ve gone from application to offer in little over 2.5 weeks - and it was a breeze. Thank you so very much, you’ve made our little family very happy!  

trackboy

obc18 said:

We got our offer today and would like to give @haras_nosirrah a massive thank you for that. This year has been horrendous and we’ve had everything thrown at us, furlough, redundancy, adverse on our files.... just never thought it would happen for us. But she never flinched and we’ve gone from application to offer in little over 2.5 weeks - and it was a breeze. Thank you so very much, you’ve made our little family very happy!  

If you don't mind can you please let us know how much did you need to borrow. And what was the challenges you faced. I am currently in soup aswell

trackboy

haras_n0sirrah said:

trackboy said:

haras_n0sirrah said:

trackboy said:

haras_n0sirrah said:

trackboy said:

haras_n0sirrah said:

trackboy said:

haras_n0sirrah said:

trackboy said:

Hi,
I am currently in secure job on railway earning well over 50k. I have recently started a 2nd job working from home. I will be getting my first pay cheque from my 2nd job by end of October. 

I have seen a property that I like and have made offer hoping to be accepted. My question is during the times like now would it be possible to get mortgage using both my job. Are there any Lenders that will accept me with 10% deposit. 

Generally you will need 6 months in a second job before lenders will include it. How much do you need to borrow? Would it fit affordability on just the first job? There is a lender with 15% deposit who may include a second job with less than 6 months however it will be subject to a plausibility check (are the jobs in similar fields, are the hours in each job sustainable etc)

I will need to include my 2nd job to get the mortgage i am looking for roughly 400k figure. My 2nd job is flexible work from home so doesn't get in way of my 1st job. 6 months sounds like a lot. Is there no possibility of getting it with 1st payslip?

At 10% I think you will struggle - there just are so few lenders in that space. Have you got any possibility of getting to 15%?

No at most I could manage is 12%. My credit score is excellent will that help? Also my first job I am getting promoted within 3 months times. Which will boost my salary to 60k for my first job.

I have had a look - with the lenders currently doing 10% you would need to have had job 2 for 6 months. There is a possibility though of using a payrise if the employer will confirm it in writing and it is due to start within the next 3 months

Yeh I can get that in writing that should not be problem. Does that mean I can use my 2nd job with 1 payslip and 10% deposit.

You won't be able to use your second job unless you can get a 15% deposit. All the 10% lenders have a 6 month in second job requirement.
If you can get confirmation of your payrise it is possible you can use your higher income in job 1 but you still won't be able to use job 2

That's bad news for me I will be missing out on stamp duty relief. Is there no way out of this?

How much do you need to borrow? 

I am looking for 400k. My 1st job is 50k and 2nd job just started 30k.

haras_n0sirrah

obc18 said:

We got our offer today and would like to give @haras_nosirrah a massive thank you for that. This year has been horrendous and we’ve had everything thrown at us, furlough, redundancy, adverse on our files.... just never thought it would happen for us. But she never flinched and we’ve gone from application to offer in little over 2.5 weeks - and it was a breeze. Thank you so very much, you’ve made our little family very happy!  

My pleasure S. Here's to a much better rest of the year 

lmcint36

How accurate are Halifax AIP? We have been given an AIP for 75% ltv through our mortgage advisor and are using the First Home Fund (applied last week for this and are awaiting the award letter) My partner has a poor credit rating and approx 5 defaults (all satisfied with exception of 1 telecoms) from 2015/16 when he was out of work, so it was a surprise to be approaching a high street lender. I am nervous our mortgage will be declined now as I have read mixed opinions online. 

haras_n0sirrah

lmcint36 said:

How accurate are Halifax AIP? We have been given an AIP for 75% ltv through our mortgage advisor and are using the First Home Fund (applied last week for this and are awaiting the award letter) My partner has a poor credit rating and approx 5 defaults (all satisfied with exception of 1 telecoms) from 2015/16 when he was out of work, so it was a surprise to be approaching a high street lender. I am nervous our mortgage will be declined now as I have read mixed opinions online. 

Halifax should be ok as long as the adverse box has been ticked. They only search 3 years on aip I believe but 6 on full application. As long as the adverse was declared on aip it should be ok, if it hasn't it can cause a problem when they widen the search