Some people want everything for nothing

[SXGuy]

Just thought id rant about a client of ours.

Wants to buy a house for £380k, wants a mortgage soley in his wife's name.

His wife currently shows an income of £300 per month as a part time M&S employee, and a owner of a residential care home, bought only a few months ago, with 4 months of accounts being declared to the Revenue.

Total income declared last financial year £14600 net profit.

Expected net profit following year 33k to 40k

Deposit of £60k.

Does not want to include himself in the mortgage, reasons i do not know, but thinks he can get a mortgage for £320k.

Not exactly spring chickens either, mortgage would prob run 20 years max.

Had his broker ringing all day with silly questions like, ah, what if HIS rental income was paid in to HER account, could she add that to her income.

No of course not, its not about where it gets paid, its about whos name is down on the business.

He rings up moaning, explain to him, if he wanted to include HIS rental accounts for the mortgage, he should either stick his name down on the mortgage application, or should have advised us to put it down as HER income last year.

Some people want everything for nothing.

[Never-In-Doubt]

Re: Some people want everything for nothing

To get £320k wouldn't you need a sole income of £65k plus, including the £60k deposit?

Ours was just shy of £300k but I got a self cert (in poppy's sole name with my income) when I earned a 6 figure salary so it was no problem but now I'm back with the normal earning a shitty wage, I'd never afford our house on my sole wage! Well I would but I'd be pretty poor each month

We paid around £50k deposit.

I've asked you about this before as our self cert is still at 5% so we're stuck with this (and any rate hikes) unless we go joint - sod that! Too risky lol

[SXGuy]

Re: Some people want everything for nothing

I know mate.

Self Cert is impossible now, i was lucky enough to get a mortgage for 180k but that was by showing 2 years of accounts AND having my wifes income shown.

we had a deposit of 22k.

The guy lives in a dream world i swear, our prefered broker dropped the job the moment he heard what he could declare and what he wanted, and hes independant with access to all mortgages, so that says it all (wont be getting my M&S vouchers now lol)

He says he doesnt want to be on the mortgage because if he dies he doesnt want trouble with leaving her with it all, well thats what insurance is for surely? if i die, my half gets paid, so why he dont do that is beyond me.