• Tel: 01743 245 254
    Email: info.morlandpotter@gmail.com

  • First-time buyers (continued!)

    October 9, 2015
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  • Welcome back, we’ll continue with tips for first-time buyers. These tips are for all first-time buyers and here at Morland Potter Financial, we help people from Shrewsbury, Telford and the rest of Shropshire and beyond get their first mortgage. Next up to consider for first-time buyers is your income. Lenders will only use net profit/dividends for self-employed applicants. If you are a sole trader, please bear in mind that net profit(profit from latest year that you have paid tax on) is acceptable as income. For those employed, lenders take differing attitudes to any form of income other than basic salary. Overtime, bonus, tax credits and child benefit can all be used to boost your income(and therefore how much you can borrow), but these cannot all be used as ‘basic’ income. Some lenders will not accept tax credits, some will use 50% of them and others will accept 100% of them. Get in touch with a whole-of-market broker(from Morland Potter Financial!) for help navigating your way through your first mortgage application. fee-free whole-of-market mortgage advice adviser broker shrewsbury shropshire