Mortgage advice sought from potential first time buyers

Brit_Chick

I know this type of question gets asked a lot on these boards but the searches I have done on the forum bring up threads that are quite dated and I am seeking advice as per the current housing market.

I am desperate to get on the property ladder and buy my own house. I have a stable civil service job and earn 21k a year. My husband works as a delivery driver and courier and while his job is permanent and stable, his wages would be around 12-13k per year. However, towards the end of this year this should increase to around 20k as he is in the midst of changing jobs (as a self employed private hire driver)

We have 10k in savings and my parents who are very financially stable are willing to act as guarantors if required.

Should we go for a self certified mortgage or a first time buyer mortgage? We want to buy a property of approx 150k. Is this unreasonable to expect to get a mortgage or should we lower our budget (and end up with a cardboard box!)

dimbo61

Even at 5X your income plus 1X your partners income you still fall short.
You need a 10% deposit so if you want a £150k home you need at least £15k deposit
Get a nice cardboard box from harrods at least!