First time buyer - question about getting mortgage offer.

woodface91

Hello!

I am in the process of clearing my debts with the view to buying a house in the next few months.

Can I go to a financial advisor or mortgage shop and get an offer based on my circumstances in 2 months or must I wait until my finances are sorted?

thanks in advance.

dylansmum

I think you might need to flesh out the details a bit for posters to help?

happybroker

woodface91 wrote: »

Hello!

I am in the process of clearing my debts with the view to buying a house in the next few months.

Can I go to a financial advisor or mortgage shop and get an offer based on my circumstances in 2 months or must I wait until my finances are sorted?

thanks in advance.

Not an "offer" as such but you should certainly be able to get some indication.

A potential lender will perform a search prior to issuing an agreement in principle which may or may not be affected by your current situation.

A decent adviser should be willing to sit down with you and go through your options now and give you a more firm idea of where you stand.....let's face it, if they invest a bit of time in you now they might get to do a bit of work that earns a few bob in a couple of months time.

Good luck.

woodface91

not sure what details you need, I am a first time buyer, I have a loan and a credit card, both of which will be cleared within the next 6 to 8 weeks.

i am just curious whether I can get the ball rolling and go and try and get a mortgage offer now based on my circumstances in 6/8 weeks, ie no debt.

dylansmum

woodface91 wrote: »

not sure what details you need, I am a first time buyer, I have a loan and a credit card, both of which will be cleared within the next 6 to 8 weeks.

i am just curious whether I can get the ball rolling and go and try and get a mortgage offer now based on my circumstances in 6/8 weeks, ie no debt.

Those are the details (in case bad credit ect as you said clearing debt). Can't add to what happybroker says - who knows about this stuff!

Good luck!

happybroker

woodface91 wrote: »

not sure what details you need, I am a first time buyer, I have a loan and a credit card, both of which will be cleared within the next 6 to 8 weeks.

i am just curious whether I can get the ball rolling and go and try and get a mortgage offer now based on my circumstances in 6/8 weeks, ie no debt.

knock yourself out woodface........sounds like now is as good a time as any!!!

when we put details into a lenders system we differentiate between debt that will remain after completion and that that will be repaid. Make sure your adviser has all the info and you will be ok I'm sure.