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Mortgages and Overdrafts
92203
Posts: 239 Forumite
I'm 28 and earn 27 K per year. I have £10,700 from the sale of my previous house. I do unfortunately have about £3,000 worth of debt (overdraft and credit card) which I am clearing slowly but surely.
I am currently renting a nice flat in the centre of Nottingham and would like to buy my own place, though in a cheaper area, to make the mortgage repayments about the same as my rent.
I have had a mortgage approved in principle for £82k (which is a lot less than 4x my wage).
Is there anyway to make myself mortgageable? Would consolidating this debt help at all?
Cheers
92203
I am currently renting a nice flat in the centre of Nottingham and would like to buy my own place, though in a cheaper area, to make the mortgage repayments about the same as my rent.
I have had a mortgage approved in principle for £82k (which is a lot less than 4x my wage).
Is there anyway to make myself mortgageable? Would consolidating this debt help at all?
Cheers
92203
0
Comments
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Why not pay the debt off from your previous sale, then you have no debt, still have £7,700 cash, with the advantage of no debt working against you0
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Don't consolidate. Eliminate.Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0
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