joint to single mortgage

hotcookie101

We are currently looking to move home, I will be changing jobs when we do (currently on notice period, have soft offer of new job, hopefully confirming terms next week) , my husband will remain in his. We are looking to borrow 193k ish at under 45% LTV 
Mortgage & house is currently in both names. Husband earns around 70k per year (51k basic) I earn 47k (but likely will be less in a new job) 
Are we better off just doing the application in husbands name (although we will ideally want to port current mortgage (in joint names <50k and included in the 193 figure, so new additional borrowing of around 145k) or will that not allow us to port, or be more complicated? I'm concerned as I would be changing jobs so this might negatively affect their desire to lend to me? There are ERF associated with mortgage we want to port, hence why we want to port it. 
Thanks for any advice. 

K_S

@hotcookie101 Unless you have poor credit, there's no obvious reason I can see to keep you off the mortgage. 

Looking to borrow 195k with a 70k salary should be easily affordable (assuming normal debt and outings). Even if your income won't be considered (changing jobs isn't usually an issue on its own), you can still have your name on the mortgage.

Do consider getting in touch with a broker when it's time to move. They can compare the porting option to what's available in the whole market and advise on what's the best/cheapest way to do this. For most large lenders, the broker can do porting as well.

hotcookie101

Thank you, it's good to know can be in both names, even if just on his salary. Does it matter if his basic income is 51k & the rest made up with on call work (which is consistent, has 2-3 years of p60 showing this) 
The other issue is that I was furloughed earlier in the year, and again in January, but am on full pay again. Would that count against us also?

K_S

@hotcookie101 Re your husband's pay it's impossible to say without knowing the whole affordability picture but 51k basic and 19k variable *should* potentially be sufficient to borrow 195k as long as there isn't excessive debt or outgoings in the background. 

If you're on full pay now and (by the time of application) will have a full payslip to evidence it, that should be fine with most lenders.

hotcookie101

Thank you @K_S
We are applying for mortgage currently, so my last payslip shows the furlough pay unfortunately. I am on full pay now but have handed in notice (3mo notice period so needed to get it in  ) 

K_S

@hotcookie101 Nothing that you've said in your posts indicates any evident potential issues with the borrowing of 195k at 45% LTV. I wouldn't worry too much.

hotcookie101

Thanks @K_S . Presume it's better to be totally upfront with advisor though? Or just mention things if they directly ask etc 

K_S

hotcookie101 said:

Thank you. Presume it's better to be totally upfront with advisor though? Or just mention things if they directly ask etc 

@hotcookie101 Regarding income and employment? Better to be upfront.