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We need to re-apply for a mortgage as they wouldn't take my wife's income into account previously but she now has a full time job.
However, in the meantime our company has moved us onto JRS. I'm actually busier than ever but technically am on a four day week with the fifth day paid by JRS.
Problem is, now the mortgage provider won't take MY salary into account due to JRS! I would have understood that they might not take the JRS portion, but they say it's the whole salary they can't include.
Employer can write me a letter saying 'it's not permanent' but won't take me off JRS.
Has anyone got an application through in similar circumstances? We're with Clydesdale, for what it's worth.
Ta
Find a good independent mortgage advisor with experience of application under your circumstances.
Try a mortgage broker like London & Country or Habito
Yeah, I agree about going to a broker.
In this kind of situation they are normally very good at getting "non-happy path" mortgages for people.
You could try a broker, but it might be less stressful to just wait until you come off JRS if you can. You don't want failed applications on your credit history - or have to answer the question if you have ever been refused a mortgage. Sit tight if you can.
I wasn't on JRS, but did have an income reduction due to a temporarily agreed pay cut. The mortgage co were happy provided I forwarded on the confirmation from work it was temporary.
I had a hard time borrowing extra to buy out my ex, my then-current provider said 'we can't even lend you what you have now...'
Good broker well worth the money (cost me £300) but found me a suitable one and just made it so easy.
Ring them up, 'Oh, hello Mr H, how are you? I'll just get your details up' while the ex was having endless problems with HSBC's call centres being clueless when buying her new one.
Anything a bit weird, go to a broker (Borders Mortgage Hub if you're in the Borders)
Ok thanks folks, timing is a bit of an issue for various reasons, can't sit tight ☹
I wasn’t on JRS, but did have an income reduction due to a temporarily agreed pay cut. The mortgage co were happy provided I forwarded on the confirmation from work it was temporary.
That's good to hear, work have just provided a letter confirming it's temporary and that there's no risk of redundancy, so perhaps that's all that was needed.
Brokers for this I'd say