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First Time buyer advice
shazzer22
Posts: 502 Forumite
My boyfriend and I are looking to buy a flat, we both have a fairly good, stable income, me £19k and him £16k, we recently went to see a financial advisor and she suggested that we would struggle to get accepted for a mortgage as we have such high debts between the two of us. At that time I owed in excess of £30k and my boyfriend £11k. Since that time a close friend has helped me with my debt meaning that I really only owe money to her (and a bit on my overdraft).
Will this change our situation as on paper I do not have any debts? In real terms the type of repayment figure was actually only a few quid more then we are forking out for rent a month (based on a property at around £110k)
We haven't got a deposit and this is probably the hardest part; but if I could figure out a goal to aim towards/an amount that would make us more favourable to lenders, so that we can at least get on the property ladder before we are thirty!
Any advice greatly appreciated!
Will this change our situation as on paper I do not have any debts? In real terms the type of repayment figure was actually only a few quid more then we are forking out for rent a month (based on a property at around £110k)
We haven't got a deposit and this is probably the hardest part; but if I could figure out a goal to aim towards/an amount that would make us more favourable to lenders, so that we can at least get on the property ladder before we are thirty!
Any advice greatly appreciated!
0
Comments
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Hi
Do you have an idea of the sort of property value you would want/need to buy at?
Post here and someone will be able to give some advice/guidance for the future.I am an IFA (and boss o' t'swings idst)You should note that this site doesn't check my status as an IFA, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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