Mortgage advice if possible

LilacPixie

I am driving myself loopy at the moment so can anyone offer any advice on my/our situation.

I need/want to move. I have around 20k equity in current property possibly more but depends on sale price. I have savings for fees/moving costs

Looking at a new property with a value of 90k. We need a mortgage of 70k but possibly less.

I earn 22k gross PAYE, my OH earns 18k basic but another 7ish k bonuses (he drives a HGV so its based on mileage and weight) april09-jan 10 he has already earnt 22k so I think 25k for the year is about right. We have 2 children.

We have some debts. We have a joint loan that is 147 a month with about 8k outstanding. OH also has some quite substansial debts. 2k on a store card that he pays £230 a month too. 2k on an overdraft that is £40 a month in interest and a loan of his own with 11k outstanding payment £476 a month. and £800 on a creditcard that's introductory rate is ending :eek:.

I have pulled a copy of his credit file and he has some missed payments in june 2007.

Do you think its possible to actually get a mortgage given my OH's record and existing commitments??

LilacPixie

anyone??? I really don't want to go any further marketing this place if we cannot get a mortgage

herbiesjp

You should be fine.

However, get an adviser to look at the credit report, to make sure they are aware of the full details before discussing your case with any lenders.

Then getting an agreement in principle would give you more confidence when moving forward

LilacPixie

Thnks Herbies. I am just having a mini flip out here.