Halifax mortgage 3 months after significant salary increase/promotion

Myci85

Hello, looking for some advice on Halifax mortgage application and specifically what they may need in terms of proof of income so we can be prepared and hopefully speed up the process. 

Me and partner will be doing joint application, looking to buy at 92.5% LTV (could potentially up to 90% but this will delay it as would need to wait on small inheritance). I'm full time employed and consistent salary bar small pay rise recently so expect it will be simple case of pay slips for me, but my partner has been with his current employer since Feb 23, was part time until end Sept and since then he's been full time so obviously significant increase in earnings. We will be able to evidence the increased amount is consistent on last 3 months pay slips, but I'm mindful the 'year to date' figure won't match current monthly salary, so I'm wondering if this could cause problems/delays. Will they likely need more pay slips, or will they need an employers reference? 

For context, we are FTB, total joint income approx £58k, looking to borrow around £185-200k. Debt of x2 loans, £288 per month total. Partner has history of arrears on old debt, now paid off, I have excellent credit history (Experian 998 but I know the scores don't mean much). Have done Halifax DIP which came back fine, but I'm aware they only do soft credit check so hoping the arrears won't cause issues on full application. 

Would appreciate anyone's experience of Halifax process, don't want to get hopes up if it's going to be a no go, but have been (impatiently) waiting to be in position to offer on a house we viewed and fell in love with months ago and don't want to miss out as it's currently still available!

amnblog

I don't see any of this being an issue.

If you want it dealt with and the worry removed ask a Broker to handle if for you.

Myci85

amnblog said:

I don't see any of this being an issue.

If you want it dealt with and the worry removed ask a Broker to handle if for you.

Thank you, I really hope not. Have seen some people saying that Halifax are approving some mortgages really quickly/within days of application, so hoping that it could be as straightforward as that and not have to go to manual underwriting to delay things. 🤞

penners324

Paying down those loans ASAP may help on max amount you can borrow 

ACG

Some lenders you can get offers immediately, I think the quickest I have had is 92 minutes. 
But on a 95% product, that is very unlikely to happen. 

As amn says though, I think the thing you are worrying about will be fine. 

kingstreet

penners324 said:

Paying down those loans ASAP may help on max amount you can borrow 

Not with Halifax at 90%+.