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Will we be able to...
loobie
Posts: 105 Forumite
get a mortgage if I am still temping in November?
Dh wage pays the mortgage and the bills, but he doesn't earn enough for us to get the mortgage on his own, so we need my wage to be included in any multiples. I pay for the shopping, petrol, and luxuries (holidays, savings, sky tv, mobiles - things we could do without if necessary)
Is there a mortgage provider out there who will take Tax Credits and child benefit into account?
Dh wage pays the mortgage and the bills, but he doesn't earn enough for us to get the mortgage on his own, so we need my wage to be included in any multiples. I pay for the shopping, petrol, and luxuries (holidays, savings, sky tv, mobiles - things we could do without if necessary)
Is there a mortgage provider out there who will take Tax Credits and child benefit into account?
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Comments
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There are lenders that will take your temping income , as well as the benefits into account.
The problem lies in finding the lender that will offer you the best deal, and the lender that will take the most of your income and benefits into account - as some lenders will take 50% into account whilst other may take higher amounts
What purchase price are you looking at? What deposit do you have? What will be your two incomes?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
We need 110k. My income inc all benefits is approx 12000. Hubby's is approx 21000.0
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What deposit do you have?
Do you have any other loans or credit cards etc outstanding?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
It is for a remortgage so we don't need a deposit and the loan and cc are already accounted for in the 110k.0
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SO what is the property value?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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approx 145k - sorry0
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You should be able to, however it all depends on what lending criteria will be like nearer NovemberI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Would we be better trying to do it now? It means paying a penalty to get out of the mortgage early, but put that against a 6 month wait. What do you think?0
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What is the penalty amount and what interest rate are you currently on?0
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mgage o/s is 85000, penalty is 3% = £2550. Interst rate is about 5.4%0
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