Posted on 9 March 2016 by Katie
My husband and I are looking to purchase a house. My husband wasn't born in the UK but has lived here for 2 years. He is currently in his probationary period at work and we have had problems getting a mortgage. We are both employed full time. Can you help and explain what our options are?
Thank you for your recent enquiry. In answer to your question, and with the additional information you submitted I know that you have a combined income of approximately £29,000 and hoping to purchase at £115,000, which subject to affordability is feasible.
There are no set rules about how long you need to have been in the UK before you can apply for a mortgage, however there are certain things that can improve your chances. The Loan to Value (LTV) can play a part, and the lower this is, the better. Also your credit footprint in the UK will be a factor, many lenders will look at whether you have existing credit, which will aid an application with those lenders who credit score. Your husband has been in the UK for the last 2 years, which shouldn’t be a real issue as long as he is registered on the electoral roll, has an active bank account, he is paying UK tax and has rights to remain in the UK with no restrictions. As this is a joint mortgage application, this will also apply to you.
I assume that you are not in a probationary period, and this only applies to your husband. Based on that assumption I would need to know how long the probationary period lasts. There are lenders who have no issue with probationary periods and subject to policy can verify income via contract of employment and salary payslip. If the probationary period is less than 3 months, some lenders will accept a mortgage application regardless of the time frame. It would be useful to know what your husband was doing prior to his new job, if he was in a similar role then this would suggest that he could find alternative employment and the lender could possibly class his “employment” as continuous.
As with any mortgage application to enable me to provide you with more definitive clarity we would need your full financial details, I would suggest that you contact a John Charcol adviser directly who will be able to recommend the most suitable lender based upon your complete circumstances.
Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.
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