Moving home - higher mortgage

Rose999

We have just found our dream home where we could see ourselves staying for the rest of our lives. We agreed our own house for sale within 1 day of the board going up, put in our offer on the house we want and had it accepted.
We went to see our mortgage providor today to find that the most they will lend us is not enough and we will be £10000 short.

Our situation is as follows;

Our house has been agreed at the asking price of £120000. We have approx. £70000 outstanding on the loan.
The house we want to buy will cost us £168000. We would be putting down a deposit of approx. £48000 and therefore need a mortgage for £120000.
We had thought that we would go interest free for the 1st couple of years so that we could see where we were and then change to repayment as soon as possible.
From my main job I earn approx. £18000, My partner earns approx. £14000. I also do some mystery shopping and earn approx. £1000 - £2000 from this but it is not guarenteed.
We own outright half of my husband's mother's house. It is worth £900000.
The Nationwide would not take this into consideration as they said the loan would be secured against the house we are buying and this 2nd home would have no bearing on whether we could afford to keep up the payments on the mortgage. We are based in Northern Ireland.

My question is this; are there any lenders that will lend a bigger multipule of your salary? Is there anywhere we are going to get this mortgage or should we give up now?

Thanks for any help!

nuttycam

i think https://www.if.com do higher loans!

herbiesjp

What is the mystery shopping for?

Rose999

Thank you to herbiesjp for your offer of help - really kind of you! :T
The mystery shopping is for a few different companies. I cannot go into specifics but I have to make trips to Fast Food Outlets, Restaurants, Clothing Retailers, Supermarkets etc etc. Can sometimes be good fun, sometimes hard work.
PM me if you like.
Cheers!

LouLouHelen

Cool job - how do you get into Mystery Shopping??

Standard Life Bank and Northern Rock offer large multiples of income. Standard Life Bank have an affordability calculator on their website I think - https://www.standardlifebank.com

Rose999

Hi Helen,
Thanks for your reply. If you wish to know more about the mystery shopping, please pm me and I give you all the company info.
Otherwise, there is currently a thread running on the subject in either Shop but dont drop or Grabbit. Can't remember which - I shall try and find it and post the link.
Cheers!

gorilla

First thing, don't listen to the bank. I went to an IFA (Sensus on the Lisburn Road, Belfast) and they got me a mortgage with the First Trust. Go to a couple of IFA's, it's really not a bad expereince and can be fun. I was impressed by the service I received from all the ones I went to, in the end though they offered the same mortgages. Ask first if they charge. They will take your details, ask you how much you want to borrow and will give you an honest answer. You will get a mortgage somewhere, if at the minute you are only falling short by £10,000. But the IFA is the way to go. One thing I would warn you against, is that some IFA's will try to sell you extras such as insurance. Don't take this unless you know it is competitive.