Hi MSE Forumers...
This is my 'maiden' post - I just want to get some advice on mortgages if anyone can help?
I am 25 years old and employed on a £30k salary. I bought a 40% share in a £245,000 property in May 2011 (on my own) but my partner and I would like to buy the remaining 60% share together (as a joint application.)
My mortgage is currently with Santander on the 4.74%SVR. This would all be absolutely fine, except my partner has recently gone 'Self Employed' (of sorts). He is working for a company in New York but based in London, he has an employment contract, a set salary of £38k so in essence he is employed, except he pays his own tax and has to do a tax return at the end of the year (I presume).
Neither of us have debts and we have £20k savings to put down on the further 60% share but obviously he hasn't got his first year accounts yet... How would this work? He does have a contract with his employer with a set salary - does that count for anything? I'm employed and have a steady income and ultimately we earn £68k collectively.
Any advice would be very much appreciated!
Best Wishes
Richard
This is my 'maiden' post - I just want to get some advice on mortgages if anyone can help?
I am 25 years old and employed on a £30k salary. I bought a 40% share in a £245,000 property in May 2011 (on my own) but my partner and I would like to buy the remaining 60% share together (as a joint application.)
My mortgage is currently with Santander on the 4.74%SVR. This would all be absolutely fine, except my partner has recently gone 'Self Employed' (of sorts). He is working for a company in New York but based in London, he has an employment contract, a set salary of £38k so in essence he is employed, except he pays his own tax and has to do a tax return at the end of the year (I presume).
Neither of us have debts and we have £20k savings to put down on the further 60% share but obviously he hasn't got his first year accounts yet... How would this work? He does have a contract with his employer with a set salary - does that count for anything? I'm employed and have a steady income and ultimately we earn £68k collectively.
Any advice would be very much appreciated!
Best Wishes
Richard