LTI exceptions while partner unemployed?

DemocAnarchis

We're in the middle of a mortgage application and were waiting on my partner to finish her probationary period, but just got news that her company is downsizing, with no warning, and she's been let go.

Trying to evaluate our options (and probably know the answer to these questions).

I'm the main earner, but without her income we're way off what we need under the 3.5 limit. How far can this stretch? We've enough repayment capacity even with just my income, and she's looking for another job.

Has anyone experienced a similar situation? Feel like the legs have been taken out from under us!

Askthe EA

Banks dont really like LTI exceptions I'm told. LTVs exceptions are way more common.

Edit: Mortgage officers of 2 pillar banks and a broker told me.

Glenbhoy

DemocAnarchis wrote: »

We're in the middle of a mortgage application and were waiting on my partner to finish her probationary period, but just got news that her company is downsizing, with no warning, and she's been let go.

Trying to evaluate our options (and probably know the answer to these questions).

I'm the main earner, but without her income we're way off what we need under the 3.5 limit. How far can this stretch? We've enough repayment capacity even with just my income, and she's looking for another job.

Has anyone experienced a similar situation? Feel like the legs have been taken out from under us!

Unfortunately you'll just have to wait until your partner secures permanent employment and completes probation.

The_Conductor

Glenbhoy wrote: »

Unfortunately you'll just have to wait until your partner secures permanent employment and completes probation.

Or reduce your expectations- and go with your current income level- and seek a mortgage commensurate with your current means.