Subbie Tip #4 – Does A Holiday Affect My Mortgage Application?

Let’s face it, we all deserve a well-earned break from time to time, whether it’s for a Christmas shut down or family holiday in the sun.  But, if you’re a subcontractor, those two weeks off can make a real difference to your borrowing potential.

Many lenders base their affordability check on your last three months/thirteen weeks income, so if you’ve taken a couple of weeks off during that time those ‘zero earnings’ weeks could have a massive impact on the amount of any mortgage offer.

Happily, there is a solution.  Many of the mortgage lenders that I work with will base their affordability calculations on your last six or even twelve months’ earnings to give a more realistic picture of your earnings, in turn enabling you to secure a bigger mortgage.

Finding the right lender can take time but I’m here to do the research for you and present you with a range of suitable options to make sure you get the right lender and the right result. Call me today on 08000 306705 or drop me an email to:  david@cismortgage.co.uk to discuss your needs.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE