Mortgage payment affordability

housebuyer143

DaveS23 said:

I have just chatted to Habito and they advised that I would be eligible for a 5 year fix from Santander at £966 per month factoring in my salary deductions including pension. However I now have a new problem, I work for the NHS and we have recently had a pay rise confirmed , and this going to be back dated to 1st April 2022. I have based my calculations on my new salary , however my local trust have been very slow to apply the new salary ( they say this should happen  by September pay date the 24th) , so my payslip does not currently reflect this new salary. Habito have advised that Santander would need to see the actual figure on the payslip , I suggested getting a letter from my payroll dept to confirm my new salary but they seemed to think this would not be enough and actually needs to appear on my payslip. Does this sound right ?

Personally I would find £1000 a month on that salary hard to stomach. We current pay that on a salary of £60k a year and we are due to bring that right down to £500 a month shortly as it doesn't sit well with me.

If the mortgage and the service charge with no other outgoings take 50% of your salary I would say you are overextended. Only you know if you can afford it though without sacrificing your life luxuries too much..

DaveS23

housebuyer143 said:

DaveS23 said:

I have just chatted to Habito and they advised that I would be eligible for a 5 year fix from Santander at £966 per month factoring in my salary deductions including pension. However I now have a new problem, I work for the NHS and we have recently had a pay rise confirmed , and this going to be back dated to 1st April 2022. I have based my calculations on my new salary , however my local trust have been very slow to apply the new salary ( they say this should happen  by September pay date the 24th) , so my payslip does not currently reflect this new salary. Habito have advised that Santander would need to see the actual figure on the payslip , I suggested getting a letter from my payroll dept to confirm my new salary but they seemed to think this would not be enough and actually needs to appear on my payslip. Does this sound right ?

Personally I would find £1000 a month on that salary hard to stomach. We current pay that on a salary of £60k a year and we are due to bring that right down to £500 a month shortly as it doesn't sit well with me.

If the mortgage and the service charge with no other outgoings take 50% of your salary I would say you are overextended. Only you know if you can afford it though without sacrificing your life luxuries too much..

Thanks for the advice . My mortgage and service charge/GR come to 42% of my salary am I am on 47K.

housebuyer143

DaveS23 said:

housebuyer143 said:

DaveS23 said:

I have just chatted to Habito and they advised that I would be eligible for a 5 year fix from Santander at £966 per month factoring in my salary deductions including pension. However I now have a new problem, I work for the NHS and we have recently had a pay rise confirmed , and this going to be back dated to 1st April 2022. I have based my calculations on my new salary , however my local trust have been very slow to apply the new salary ( they say this should happen  by September pay date the 24th) , so my payslip does not currently reflect this new salary. Habito have advised that Santander would need to see the actual figure on the payslip , I suggested getting a letter from my payroll dept to confirm my new salary but they seemed to think this would not be enough and actually needs to appear on my payslip. Does this sound right ?

Personally I would find £1000 a month on that salary hard to stomach. We current pay that on a salary of £60k a year and we are due to bring that right down to £500 a month shortly as it doesn't sit well with me.

If the mortgage and the service charge with no other outgoings take 50% of your salary I would say you are overextended. Only you know if you can afford it though without sacrificing your life luxuries too much..

Thanks for the advice . My mortgage and service charge/GR come to 42% of my salary am I am on 47K.

Sent you a message 👍

Helplesssheep

DaveS23 said:

I have just chatted to Habito and they advised that I would be eligible for a 5 year fix from Santander at £966 per month factoring in my salary deductions including pension. However I now have a new problem, I work for the NHS and we have recently had a pay rise confirmed , and this going to be back dated to 1st April 2022. I have based my calculations on my new salary , however my local trust have been very slow to apply the new salary ( they say this should happen  by September pay date the 24th) , so my payslip does not currently reflect this new salary. Habito have advised that Santander would need to see the actual figure on the payslip , I suggested getting a letter from my payroll dept to confirm my new salary but they seemed to think this would not be enough and actually needs to appear on my payslip. Does this sound right ?

I had to get a mortgage offer based on a salary that didn’t yet appear on my payslip. My lender gave me an offer based on a letter from my work. It seems odd that Habito says that is insufficient - particularly as there must be so many people with CoL backdated and thus payslips immediately after April not indicative of salary. I went through L&C, maybe try them instead, they were very helpful.