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  • FIRST POST
    • Haz29
    • By Haz29 11th Apr 18, 2:31 PM
    • 23Posts
    • 4Thanks
    Haz29
    2 jobs and mortgage
    • #1
    • 11th Apr 18, 2:31 PM
    2 jobs and mortgage 11th Apr 18 at 2:31 PM
    Hey all
    I have(will be having) 2 jobs
    Sunday-thursday
    2 days one job
    3 days the other job
    I was wondering when getting a mortgage do they take both jobs into account the total annual income for both jobs to decide how much they will be lending?
    Thanks
Page 1
    • chelseablue
    • By chelseablue 11th Apr 18, 2:50 PM
    • 2,510 Posts
    • 2,967 Thanks
    chelseablue
    • #2
    • 11th Apr 18, 2:50 PM
    • #2
    • 11th Apr 18, 2:50 PM
    When I purchased my first place in 2010 I had 2 jobs, worked full time Monday to Friday, then on 2 evenings a week and Saturdays I worked in a supermarket.

    When I applied for my mortgage I told them about both jobs and they asked for payslips from both
    Mortgage starting balance £231,000
    Mortgage after Year 1 £225,000
    Mortgage after Year 2 £218,000
    • Alarae
    • By Alarae 11th Apr 18, 5:09 PM
    • 325 Posts
    • 334 Thanks
    Alarae
    • #3
    • 11th Apr 18, 5:09 PM
    • #3
    • 11th Apr 18, 5:09 PM
    I have just secured a mortgage on a full time job and a second (zero hour) part time.

    Make sure if you are not using a broker that you select a lender that will take 100% of second job income, as some will only take a percentage or will take the lower of your last p60 or annualised amount. The intermediary websites of the lenders normally publish their income criteria there.

    Also, some will only consider a second job if it is in a related field to your first job.

    As long as you choose the right lender and hit affordability, you should be okay (subject to credit scoring by the lender).
    Save 10k in 2018: #58

    £4,111.44 / £10,000 - 41.11%
    • MortgageMamma
    • By MortgageMamma 11th Apr 18, 8:31 PM
    • 6,197 Posts
    • 3,057 Thanks
    MortgageMamma
    • #4
    • 11th Apr 18, 8:31 PM
    • #4
    • 11th Apr 18, 8:31 PM
    All lenders have a different stance on this, and the fact you have two jobs is just one small piece of the puzzle when selecting the right lender.


    There are lenders who would consider taking 100% income from both jobs, but you'll need a bit of employment history with both jobs showing regular hours.
    Hi there! Weíve had to remove your signature. Please check the Forum Rules if youíre unsure why itís been removed and, if still unsure, email forumteam@moneysavingexpert.com
    • Haz29
    • By Haz29 11th Apr 18, 8:44 PM
    • 23 Posts
    • 4 Thanks
    Haz29
    • #5
    • 11th Apr 18, 8:44 PM
    • #5
    • 11th Apr 18, 8:44 PM
    Anybody know which lender take 100% on both incomes?
    Is 3 year employment and 3 months on other enough although wage increased on last month on 2nd job
    • Haz29
    • By Haz29 11th Apr 18, 9:11 PM
    • 23 Posts
    • 4 Thanks
    Haz29
    • #6
    • 11th Apr 18, 9:11 PM
    • #6
    • 11th Apr 18, 9:11 PM
    Would it matter if their are 2 applicants with same jobs
    • MortgageMamma
    • By MortgageMamma 11th Apr 18, 9:35 PM
    • 6,197 Posts
    • 3,057 Thanks
    MortgageMamma
    • #7
    • 11th Apr 18, 9:35 PM
    • #7
    • 11th Apr 18, 9:35 PM
    Hello

    Not possible to name lenders as there are too many other variables that could discount a particular lender for your situation.


    Some lenders will accept three months or less in a job if you are not in a probationary period and its permanent. It also helps if you've worked in the same type of work previously.


    The three years in your other job will be fine.


    You need to discuss your situation in more detail with a whole of market mortgage adviser. They will be able to look at your whole situation and tell you what the likelihood is of getting a mortgage, or if you need to wait a while longer, and what will be required when you apply for the mortgage itself. They will, when you are in the right position to buy, be able to recommend a specific mortgage lender and a product that suits your needs.


    A mortgage is a huge financial commitment, its important to get it right first time.

    MM
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