First time buyers, ex expats

Katnipp

My parter and I have been living abroad for 2 years and returned to the UK November 2008.

We're in our mid twenties and want to buy a house for the first time while they remain lower in price.

My boyfriend is self-employed and I am with a temp agency while I look for full time work. We are both earning good money so we could have a reasonable deposit by 10-12 months. We want to buy a run down property to renovate.

I've only got a small credit card and overdraft and have never applied for a loan. My boyfriend has an overdraft and a credit card he's in the process of paying off.

Will any mortgage lenders touch us with a bargepole?

HappyMJ

Yes of course they will.. Just get those overdrafts/cc's paid off and save up your deposit and in 12 months time you'll be welcomed by mortgage lenders. Agency and self-employment work is fine just keep a record of how long you are in and out of work to prove you can earn that good money consistently.

Katnipp

Thanks!

Is there anything else that would further help out cause? Should we both be on the electoral register?

dimbo61

Yes get on electoral roll.
Are you renting ?
Gas / elec bills paid by DD
water/phone/broadband all paid each month on time DD
Do not default on any bills or loan and clear any overdrafts/CC cards before applying and save save save.
The bigger the deposit the better.

Katnipp

We rent with bills all inclusive from my brother - so we transfer money into his account each week. Would this count?

Katnipp

A sudden thought.. Would our property in Bulgaria count for anything as they're in the EU now? We have two properties there, one renovated and on the market, and one unrenovated for keeps until the market there picks up!