New Mortgage with no job

ACG

silvercar said:

ACG said:

Im not asking you to incriminate yourself here...
These stopped before I became a broker so I never did any but I always wonder how people with no provable income were so confident they could pay a mortgage... 

Assuming nothing dodgy how did you manage it? Im just curious to see if there were any circumstances that were not iffy. 

Renting out spare rooms, even if the amounts are above the rent a room scheme, income is income even if taxable.

Also consist income as self employed in non standard jobs eg influencers, poker players. Or even relatives paying the mortgage in a family members name. Overseas income can also be difficult.

With the exception of poker player and relatives paying your mortgage, they are all jobs. We have influencers and content creators as clients. We have landlords as clients. Likewise foreign income, not really for me now a days but income declared abroad can be placed. 

But I suppose the other 2 would be good answers to the question. Although family paying the mortgage could be placed under JBSP. Im not sure about the gambler, never had that hit my desk. 

silvercar

ACG said:

silvercar said:

ACG said:

Im not asking you to incriminate yourself here...
These stopped before I became a broker so I never did any but I always wonder how people with no provable income were so confident they could pay a mortgage... 

Assuming nothing dodgy how did you manage it? Im just curious to see if there were any circumstances that were not iffy. 

Renting out spare rooms, even if the amounts are above the rent a room scheme, income is income even if taxable.

Also consist income as self employed in non standard jobs eg influencers, poker players. Or even relatives paying the mortgage in a family members name. Overseas income can also be difficult.

With the exception of poker player and relatives paying your mortgage, they are all jobs. We have influencers and content creators as clients. We have landlords as clients. Likewise foreign income, not really for me now a days but income declared abroad can be placed. 

But I suppose the other 2 would be good answers to the question. Although family paying the mortgage could be placed under JBSP. Im not sure about the gambler, never had that hit my desk. 

I guess not all family members want the liability of JBSP, even if they are paying the mortgage they may not want to commit to it for 25 years, or may be too old to enable a 25yr mortgage. The plan may be to pay the mortgage for now with a future inheritance (from them or someone else) clearing it. My parent and in-laws are in their 80s, if there is any future inheritance we would use some of it to reduce our offspring’s mortgage. Little point in taking it ourselves and then having IHT on our estates.