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Key Workers
arsenalchris
Posts: 27 Forumite
Hi i was wondering if anybody could hlep me. I have decided that i really need to start thinking about moving out. This is the first time i have done this and am very unknowlagable about the whole thing. Any advice given would be of a great benefit.
I work as a priamry school teacher earning 23000 a year. I have no savings but am able to borrow the 4,000 needed to pay fees etc under the scheme.
My big problem is that i have a lot of debts. Including my student loans i have around about 16,000 debt!!! I have also on occasions missed a credit card payment.
How will this effect my ability to get a mortage or the Key workers loan? Any hekp or advice would be much appreciated.
Regards, Chris
I work as a priamry school teacher earning 23000 a year. I have no savings but am able to borrow the 4,000 needed to pay fees etc under the scheme.
My big problem is that i have a lot of debts. Including my student loans i have around about 16,000 debt!!! I have also on occasions missed a credit card payment.
How will this effect my ability to get a mortage or the Key workers loan? Any hekp or advice would be much appreciated.
Regards, Chris
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Comments
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how much of your debt are the student loans?It's not easy having a good time. Even smiling makes my face ache.0
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6,500. I have always earnt under the freshold so i have not had to pay them off. However this will kick in this September.0
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When I went for my mortgage on my shared ownership flat ( not keyworker in the end, Im not one) my lender minused the amount of debt that I had an would not lend me that times 3. Ive read here that other lenders are more flexible though, might not always apply.
I would say... if you can hold off and clear the debt, then do so, i went into mine with less debt than Ive got now, and you have to spend A LOT on furniture etc ( even just with ikea)and your solicitors fees etc.:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
just bumping this up to see if anybody else can help me out.
Cheers0
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