My wife and I would very much like to move to a bigger house. The problem we have is that we are both musicians/hourly paid teachers.
My wife has 3 years of accounts and also earns around £5000 form PAYE, this work has a contract but no guaranteed hours of work.
I work for 3 different PAYE,s again I have a contract but no fixed hours of work. I also have a small amount of self employed income.
We are currently have a mortgae of 1.99 tracker (1.49 above BOE) with the woolwich. When we took this out we were fast tracked and they lent us the money off of what went in and out of our Barclays accounts. I would love to stay with the Woolwich and take our existing Mortgae of £133000 with us, we would then need to borrow another £45000 to get our ideal property. We will have 30% deposit in savings and equity
The problem we now have is the FSA has clamped down and I believe thay will want to look at all of our income. If they took the overall pay from SA302 for the last 2 or 3 years then we would be absolutely fine. If they took my Wifes self employed and added up my PAYE we would be fine. However I doubt that it could ever be this easy...... The PAYE changes each month depending on the hours worked with a large payment at the end of each term.
Does anyone have any advice ??
Thanks
My wife has 3 years of accounts and also earns around £5000 form PAYE, this work has a contract but no guaranteed hours of work.
I work for 3 different PAYE,s again I have a contract but no fixed hours of work. I also have a small amount of self employed income.
We are currently have a mortgae of 1.99 tracker (1.49 above BOE) with the woolwich. When we took this out we were fast tracked and they lent us the money off of what went in and out of our Barclays accounts. I would love to stay with the Woolwich and take our existing Mortgae of £133000 with us, we would then need to borrow another £45000 to get our ideal property. We will have 30% deposit in savings and equity
The problem we now have is the FSA has clamped down and I believe thay will want to look at all of our income. If they took the overall pay from SA302 for the last 2 or 3 years then we would be absolutely fine. If they took my Wifes self employed and added up my PAYE we would be fine. However I doubt that it could ever be this easy...... The PAYE changes each month depending on the hours worked with a large payment at the end of each term.
Does anyone have any advice ??
Thanks