Huge deposit, income somewhat debatable...

G-wizz_2

My missus and I are looking at buying a place in London. I currently own a flat with my sister that we bought for 369 but hope to sell for at least 450. We had a deposit of 100k on it in the first place.

Mrs G-wizz works as a freelancer and has an income of c.35k a year, however my income has been very sporadic over the past year, for a variety of reasons, and is much, much less - probably 7k.

With the new regulations about self-cert coming in, are we likely to run into problems, even if we have a deposit in excess of 100k? What sort of money could we realistically look at spending on a flat in our situation?

Sorry to bother you all with our domestics, but this just seemed like the ideal forum to do it in, and I thought you might be able to furnish us with some good advice. If you can, many thanks in advance.

Cheers,

Greg

sammyjammy

If your income is that sporadic still then its unlikely to be taken into account at all which means you are probably looking at borrowing a max of £130-£150k, obviously thats dependant on any debts you have.

herbiesjp

Are you freelance or Self Employed also?

Or have you changed jobs?

_Andy_

Self-cert doesn't change what your income is - if it's 7k then you would need to declare that.