Mortgages And Commission Paying Jobs

[Fast Bug]

So we've seen a house that we like, and the mortgage payments seem to be comfortable looking at various mortgage calculators. We went and viewed the house today, and we really like it.

Got home and called First Direct who our mortgage is with and asked if we could borrow the money before we put an offer in. The nice lady on the phone told me that we couldn't borrow enough money as they're only looking at basic salaries at the moment

Is this the same for all lenders? To switch lenders it's going to cost us the thick end of £5k as we only took out a new fixed term in Feb

[Sarnie]

Lots of lenders are not using variable income currently.............but lots are...........but if you want to move and FD won't lend, you have no choice but redeeming your mortgage and incurring that ERC.......

[Simpo Two]

Sounds like a question for PH mortgage boff Sarnie...

ETA Haha see what I mean! 'Speedy Sarnie' lol...

[Fast Bug]

Sarnie said:

Lots of lenders are not using variable income currently.............but lots are...........but if you want to move and FD won't lend, you have no choice but redeeming your mortgage and incurring that ERC.......

I was hoping you'd reply, I wasn't 100% of your username though

I've just seen your profile has an email on, do you mind if I ping you an email?

[Sarnie]

Fast Bug said:

I was hoping you'd reply, I wasn't 100% of your username though

I've just seen your profile has an email on, do you mind if I ping you an email?

Of course, no problem at all, always happy to chat!

[I 8 a 4RE]

To dovetail on the topic; (@Sarnie), is there a rule of thumb on what % of bonus / commission lenders will take into consideration?

[Sarnie]

I 8 a 4RE said:

To dovetail on the topic; (@Sarnie), is there a rule of thumb on what % of bonus / commission lenders will take into consideration?

No, especially not in the current environment......will vary hugely from lender to lender........as per the OP, 0% with some lenders currently.......