How much can DH borrow for mortgage?

[KOKOagainandagain]

DH would be sole applicant for a mortgage as I am not employed. However, I do have income from disability benefits and from other sources (from trading on financial markets) and pay £1500 into the joint account each month from other accounts. I will keep doing this when a mortgage is granted as my independent monthly 'income' will continue to be around £2,500 per month.

How can my income best be used to contribute to DH's/family monthly income wrt calculating how much can be borrowed given that DH will need to apply as sole applicant as I don't have an employer and am not classed as self employed?

Talk to a broker. There are products which will include your income.

Can you recommend a broker? What should I search online? I always think they are going to rip me off.

I have no real knowledge of this, but you might want to find out from a broker if it is better for you to be included on the application because you do have income, albeit that only the disability benefits are fully reliable or if including you would mean you are seen as a dependant and so would reduce the amount he could borrow.

In terms of how to use your income to help his application if you have separate accounts then your paying (and having in your sole name) the non- essential liabilities like tv and mobiles, leaving him all the essentials means his bank account would look very good in terms of affordability.

If you're regularly paying money from "other" accounts, would that suggest you have a reasonable amount of savings? If so, is using that as a deposit contribution an option? Thus (potentially) reducing the mortgage you'd need, and / or reducing monthly payments.

But I'd still speak to a broker as suggested, sounds like your circumstances are such that "standard" mortgage isn't most suitable.

I pay non essential dd's from interest paying current accounts in my sole name and can afford to pay a deposit from savings but only about 10% of a house valued at 400K so his earnings for mortgage calculations have greater impact for mortgage purposes especially as we are old and only looking for a 13 year mortgage.

Use a broker who will do the whole of market (ie not just products that pay your broker commission). Expect to pay about £300 to see one but be comfortable knowing you are the only one paying him.

OP, London & Country - they now market themselves as L&C - are absolutely excellent. Both we and friends and family have been able to access mortgages via them despite having non-standard financial circumstances. Definitely worth contacting them.

Or try Tussle mortgage brokers. Free and were brilliant for us. We are also older buyers and one of us self employed so not straightforward. Moving into our new home next month. Think Habito are good too. Both recommended by Martin Lewis.

You will have evidence trading income from your annual tax return? If it is consistent over a few years they may take it into account for a mortgage. You are trading professionally ands it is self employed income.