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Confused re mortgage, benefits and fiancee!
Ellie08
Posts: 1 Newbie
Hi,
I have my own mortgaged house and my fiance moved in with me a couple of years ago. I became really unwell recently and was forced to move back in with my parents in order for them to care for me. My fiance found it difficult living at the house alone therefore he too, moved back in with his parents! My house remains empty at present.
We have talked for quite a while about buying a house together and have reached the point now where we want to set the wheels in motion. I'm now on benefits due to my poor health and my fiance earns only £13,000 a year. I'm really worried that we won't be able to get a decent mortgage to enable us to get a house. Am I right to be worried? How will the mortgage be worked out if one of us is on benefits?
Also, I'm not sure where I stand with my house. I bought it for £60,000 and it's now been valued at £110,000. Can I use the equity in that house to make up the shortfall for the small mortgage we may only be able to get or does that go for a deposit?!
Aggghhhh!!! Just don't know where to start with it all.
Would be grateful for any advice at all! Thank you.
I have my own mortgaged house and my fiance moved in with me a couple of years ago. I became really unwell recently and was forced to move back in with my parents in order for them to care for me. My fiance found it difficult living at the house alone therefore he too, moved back in with his parents! My house remains empty at present.
We have talked for quite a while about buying a house together and have reached the point now where we want to set the wheels in motion. I'm now on benefits due to my poor health and my fiance earns only £13,000 a year. I'm really worried that we won't be able to get a decent mortgage to enable us to get a house. Am I right to be worried? How will the mortgage be worked out if one of us is on benefits?
Also, I'm not sure where I stand with my house. I bought it for £60,000 and it's now been valued at £110,000. Can I use the equity in that house to make up the shortfall for the small mortgage we may only be able to get or does that go for a deposit?!
Aggghhhh!!! Just don't know where to start with it all.
Would be grateful for any advice at all! Thank you.
0
Comments
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Am I missing something? Why don't you just both move back into the house you already own and then get your fiancee put on the mortgage.....problem solved and a lot less hassle. I'm sure someone more qualified will be along shortly but I'm pretty sure it's difficult to get a mortgage whilst on benefits.My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0
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