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Shared Ownership Mortgage - reassure me please!

(4 Posts)
hiimmumma Wed 15-Feb-17 16:17:36

We have been offered a share of a new build flat and we are so so excited about the prospect. It's ont 25% but it's getting on the first quarter rung of 'the ladder' and it's in the area we are desperate to stay in.

Just need to get a mortgage approved now. we have sent all relevant documents off to a specialist broker.
Only issue is DH is on commission and I am on maternity leave. We are trying to be hopeful but I have this feeling it's all going to fall apart.

Has anyone else been in this situation and successfully got a mortgage?

HemiDemiSemiquaver Thu 16-Feb-17 09:42:56

I got one despite being self-employed. there were lots of rules about what share I had to buy, what percent of income the various bits added up to, etc., but it was OK. Specialist broker had to try a couple of different banks first.

hiimmumma Thu 16-Feb-17 17:11:57

Thanks for responding.
That is reassuring. OH Is on 100% commission so similar rules to self employed I think so that's good.
Also the broker says they aren't allowed to discriminate re: mat leave so my full salary counts too.
Feeling a bit more positive!

FormerlyFrikadela01 Fri 17-Feb-17 07:42:30

It's true they can't discriminate due to maternity leave however our mortgage adviser said if we were to proceed whilst I was still on leave I'd have to get written confirmation that I would be returning to work in the same terms. Just something to think about if you were planning on dropping hours or something

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