boosting partners pay to get around 3.5 rule

[john keating]

hello all

trying to get a mortgage with my girlfriend. i already have a property
and im self employed and i think will find it difficult to get another mortgage.

my partner would be a first time buyer and we would like to avail of
the help to buy scheme also.

we have 120k savings combined and would be looking for 220k in a mortgage.
problem being my partner is on a salary of 50k.

if i put my girlfriend on my books as a consultant and start paying her
to raise her overall pay. would a bank take this in to account?

 

[Gordon Gekko]

What do your earnings look like?

In any event, I would recommend that you deal with a broker; they're excellent if your circumstances are non-standard.

 

[messyleo]

What do your earnings look like?

In any event, I would recommend that you deal with a broker; they're excellent if your circumstances are non-standard.

Also, note that the help to buy scheme is limited in first time buyers I believe.

 

[john keating]

What do your earnings look like?

In any event, I would recommend that you deal with a broker; they're excellent if your circumstances are non-standard.

i set up the business in 2012. and have steadily built and grown. in doing so i didnt take a big salary 30k. towards the end of 2015
i upped my salary to 70k as we were doing a lot better. this year we doubled 2015 turnover and look steady in to next year. i was under the impression
its near impossible to get a mortgage with a relatively new growing business?.

would a bank offer an exemption on the 3.5 rule to a ftb if the ltv was favourable? also if i gift my savings to my partner to buy house
is that taxable?

cheers