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Buying advice needed
stanleyunwin
Posts: 108 Forumite
Hi Folks,
posted this on the mortgage forum first, but seems like their not very chatty on there! (0 replies)
Hopefully someone might be able to advise on here
I'm trying to find out if I should be able to get a mortgage comfortably. I know some of you out there might be able to advise.
Our situation:
My wife and I are currently looking to move home. We have just had a baby and our current home is looking a bit small.
We own our house outright and is probably worth around £100K. We are not planning to sell at the moment, but rent out for a few years.
We have a deposit in the bank of about £100K and are looking at houses around the £200-300K bracket. So looking to borrow £100-£200K max.
I'm a freelance Project Manager on a fairly longterm contract earning around £60-£80K. I have accounts for the last 5years showing profits to back that up.
My wife is a teacher, who earnt around £40K before she started her maternity leave. She is currently on maternity leave but will probably return part time (maybe not) earning around £15-20K.
So I suppose the questions are:
Should I wait for my wife to return to work before applying anywhere?
If she doesn't - are we still likely to be accepted on mine alone?
Are we best engaging the services of a broker to do some of the work?
Thanks in advance for any responses
posted this on the mortgage forum first, but seems like their not very chatty on there! (0 replies)
Hopefully someone might be able to advise on here
I'm trying to find out if I should be able to get a mortgage comfortably. I know some of you out there might be able to advise.
Our situation:
My wife and I are currently looking to move home. We have just had a baby and our current home is looking a bit small.
We own our house outright and is probably worth around £100K. We are not planning to sell at the moment, but rent out for a few years.
We have a deposit in the bank of about £100K and are looking at houses around the £200-300K bracket. So looking to borrow £100-£200K max.
I'm a freelance Project Manager on a fairly longterm contract earning around £60-£80K. I have accounts for the last 5years showing profits to back that up.
My wife is a teacher, who earnt around £40K before she started her maternity leave. She is currently on maternity leave but will probably return part time (maybe not) earning around £15-20K.
So I suppose the questions are:
Should I wait for my wife to return to work before applying anywhere?
If she doesn't - are we still likely to be accepted on mine alone?
Are we best engaging the services of a broker to do some of the work?
Thanks in advance for any responses
0
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see your other postHappily an ex mortgage broker!0
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