If one of you earns significantly more than the other, that could be in your favour.
The lender has two options: -
a) e.g. 3 times your joint income or
b) e.g. 3.5 times the larger salary, plus 1 times the smaller salary
It's been a while since I had a joint mortgage, mind
@Markyboy started
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
If one of you earns significantly more than the other, that could be in your favour.
The lender has two options: -
a) e.g. 3 times your joint income or
b) e.g. 3.5 times the larger salary, plus 1 times the smaller salary
It's been a while since I had a joint mortgage, mind