First Time Buyer Help

Cowhead

Hi all, going to see my Mortgage advisor next week at A&L, have bitten the bullet and getting stuff in order.

Have done all those online mortgage calculator they vary from 120.000 to 87.000 depending on the one I use. So before I go next week I may as well ask if anyone can give me some real human advise.

I am on 22k a year in a safe public sector job in 4 years I will beon 26k. I do a on calll rota which brings in around 3-4K a year.

I have no out standing loans, my credit card has £200 on it, limit of 3K, only use for holidays and increasing my credit score. My score is 792 like to keep a eye on it.

I have 17k saved up and hope to be putting down, between a 15-20K deposite.

So heres the question am I looking ok for a mortgage?And what you think they will offer me. I know other factors will come in to find but i hope the people in the know, not a computer will have a idear, hopefully a brooker will read this and give me a answer (can hope )

Thanks

VIGILANT22

If you want an answer from a broker you should make an appointment with one.
You are going to Alliance & Leicester who can only offer you their own products. They are neither authorised or permitted to advise on whole of market products........ where as a broker can.........

Cowhead

I am aware that A&L can only offer their own products, what i was asking if anyone knew what I could be looking at offer wise with the info I have given you.

Thanks

VIGILANT22

A&L not that generous on income multiples...probably around 65/68k

phildamb

Cowhead wrote: »

Hi all, going to see my Mortgage advisor next week at A&L, have bitten the bullet and getting stuff in order.

Have done all those online mortgage calculator they vary from 120.000 to 87.000 depending on the one I use. So before I go next week I may as well ask if anyone can give me some real human advise.

I am on 22k a year in a safe public sector job in 4 years I will beon 26k. I do a on calll rota which brings in around 3-4K a year.

I have no out standing loans, my credit card has £200 on it, limit of 3K, only use for holidays and increasing my credit score. My score is 792 like to keep a eye on it.

I have 17k saved up and hope to be putting down, between a 15-20K deposite.

So heres the question am I looking ok for a mortgage?And what you think they will offer me. I know other factors will come in to find but i hope the people in the know, not a computer will have a idear, hopefully a brooker will read this and give me a answer (can hope )

Thanks

You sound like you are in a good position I would give a whole of market advisor a call you may not get the best deal from A&L.

_Andy_

Rather than thinking about what you may get offered (i.e in terms of borrowing amount), have a think about what's actually affordable to you - and what would/wouldn't be affordable if/when rates go up.

JA1000

A&L take ages to respond as they are 'overwhelmed' apparently. 6 weeks on and nothing but a referral!!!

Oh and that's through broker. Worth seeing the broker anyway.

Dan_1976

Andy makes a good point. You cannot say safe public sector job in 2010.

Think long term and when your looking at what you can afford look at the amounts at 7 or 6% to ensure you will not be stung in the future.