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Probability of being approved for a mortgage
Cymraes25
Posts: 1 Newbie
I would like to know if it is possible for my boyfriend to apply for the mortgage for our first house and use his deposit so we can keep mine in the Lifetime Isa and have the first time buyer bonus when we buy in the future. The problem i have is that my boyfriend has a temporary contract at work as a teacher covering maternity but i do work full time. What is the probability of making this work?
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Comments
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A good mortgage broker will answer your questions better than you will get on this forum - you'll need to provide very detailed information about you and your partner's finances, which is not appropriate to do here. Have you looked at the MSE website's mortgage section?0
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I dont think you will be able to, the house you are buying is going to be jointly owned I assume based on the "our first house" comment. Quote on Lifetime ISA's:
You can only use the funds from the Lifetime ISA for two things: buying your first home or saving for later in life.
You wouldn't be a 1st time buyer as you already jointly own a house.0 -
Different lenders different rules and processes for their assesments (who'dave thought!).
Agreed, talk to mortgage brokers they should know which lenders will (currently) be most promising.
Beware, the tools and processes keep changing with each lender.0
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