Mortgage application questions

[Beccarollover]

Does anyone know what income multiplier most companies use for a joint application?

I have a mortgage in my name at the moment.

I want to move, stay with same company, add DPs name and borrow extra to buy bigger house - is that ok?

Im scared about getting mortgage for some reason, probably as Im desperate to move and worried it will go wrong.

I have 50k or there abouts to put down on a 142k house. My current mortgage is for 67k - combined income 37k.

message withdrawn

There is a 2k redemption penalty on current mortgage - runs out in January.

I am in pretty new job (2 months)

DP is in same job he has had for 2 years but is on new much higher salary which only starts this month.

We will both have to get employers statements of earnings so I was thinking better to stay with the company we already have the relationship with.

Why not tell them what you want and they'll probably try to work the figures to fit...

Wouldn't let those details stop you looking around BR. Employment history is often what they are looking for (ie not having lots of gaps, as opposed one continuous employer).

Companies will also take other loans etc into account when deciding how much to lend, though with the amount of equity you have that may not be a problem, provided you have enough income to pay off these loans and your mortgage.

message withdrawn

message withdrawn

So, just use the calculators on these sites and pick some best for me and approach them? Some of them seem ridiculously cheap or generous one came up before with good interest rate and 6k cash back!? That cant be right surely!!

message withdrawn

BR, you've just admitted that you feel that you ought to stay with your existing company, even if it isn't the best deal. Of course these companies all want your business - you are their ideal customer! Just to remember to keep checking out new deals every year or so....