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After a couple of years career break, can we get a 50% mortgage?

Posted on 23 March 2013 by Dave


My partner and I have had a couple of years off work for one reason or another and in the next couple of weeks are starting back again. She will be full time P.A.Y.E and i will be self employed. Our credit rating is perfect and we have had mortgages before. Would there be any problem getting a 50% mortgage?

Dave,

Even at 50%, most lenders will want a 3 year employment history, and therefore your career break  may be an issue, also for borrowers who are self employed, lenders tend to look for a 2 - 3 year track record of positive figures. These areas are likely to be more problematical with those lenders who credit score and I think it is more likley that we would need to speak to lenders who manually underwrite, and can therefore judge a case on its individual merits, rather than following the "computor says no" mantra.

If you'd like to see how best we could assist you, then please let me know, and I'll arrange a convenient time for you to speak to one of our consultants.

Regards,

Simon

simon.collins@johncharcol.co.uk

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