Lending Rules for Mortgage

Jambon93

Hi there,
My partner and I received Approval in Principle from a lender a few months back. At the time, we applied based on my job and one of his jobs.

We have sale agreed subject to survey and proof of funds on a house at the mo. So we are applying again but this time we are looking to include his second job in order to borrow more. He makes 8,000 in job 1 and 15,000 in job 2 (both paye, has worked continuously over the pandemic, no pup or wage subsidy).
A few months ago, when we asked about including the second job, we were told that because he hadn't been there a full year it wouldn't be taken into consideration. However, recently the lender said they might take the earnings from the second job in place of the first job.

He will have been at the second job a year in early July so I'm wondering if they would give us the loan offer for both jobs, on the basis that circumstances hadn't changed from now to July and that the funds wouldn't be released to the vendor until after that date in early July.

Does anyone have any experience of this kind of situation?
Thanks in advance.

spion1892

I'd be surprised if they don't include the second job income in some form. Some lenders might treat it as variable income and discount it by 50%. If you talk to a broker they should be able to find you a lender that will factor in the 2nd job at 100%.