F.t.b

Andyalty

Hi me and Girlfirend are planning on getting a house in the new year feb/march. I will have about 12k-14k saved up by then, which will be about 10% + fee's of our future property.
The problem is that my girls friend has got quite a large loan £15k. and I've got a small loan which is £90 a month.

I earn £27k a year and my girlfriend earns £18k a year.

My question is am I better getting a mortgage in my name (single) or in both our names as a joint mortgage as she has a large loan comitment??

Any advice would be greatful

Andy

herbiesjp

You need to post how much you are looking to borrow

And also how much your GF is paying each month on that £15k loan

gman20_2

Use her loan as an excuse to do it in your name.
Joint mortgage applications are for married people.

the.ciscokid

Use your savings to pay off all your debt before you take out even more debt. Continue to save and buy later... house prices are going nowhere fast (-2.2% on right move last month).

Earning £18K per year and having £15K debt is frightening frankly.

Soot2006

gman20 wrote: »

Use her loan as an excuse to do it in your name.
Joint mortgage applications are for married people.

What a load of tosh!
If the girlfriend is living in house + contributing to deposit & maintenance, then of course she should be on the mortgage or she would have no rights in the event of a split!

gman20_2

Soot2006 wrote: »

What a load of tosh!
If the girlfriend is living in house + contributing to deposit & maintenance, then of course she should be on the mortgage or she would have no rights in the event of a split!

I'd like to point out the following line:

I will have about 12k-14k saved up by then, which will be about 10% + fee's of our future property.

So he has a girlfriend with 15K of debt, and she's named on the houses papers.
Not a good situation to be in if they have a bad break up.

Andyalty

I am not bothered about the "what if you break up factor" Its just I was looking for a answer weather i am better on going for a solo or joint mortgage with my girl friend current debt.

She pays around £450 a month on her loan and I save about £450 a month towards the house so I made her a deal what ever I save she pays back on her loan and its working well so far.

We both have quite good credit rating no ccj and not missed payments at all. Both have had credit cards and paid off in full.

We are looking to borrow £120k and like I said we will have around 12k-14k saved up.

herbiesjp

Solo might be stretching it

Joint will be easier, even taking into account the debts

Having a roughly 10% deposit is the most important factor here though, as it will limit the deals and rates available to you