Can anyone advise??

cosmic_girl

Hi Folks,

Was just wondering if anyone can help. I am looking to purchase a property (notfound a particular one yet but fed up with wasting money on rent). Im aware that mortgages seem to be a bit of a hit and miss thing nowadays with all that has happened recently and just wondered what I can do to up my chances. At the moment I am classed as a contract worker but have been with the same employer for 2 years now and will not be leaving any time soon. I earn approx £29,000 at the moment although this can increase with overtime (which is regular). I have no adverse credit and am currently saving for a deposit. Sitting at approoximately 21,000 at the minute. Only outgoings that I have is my car and mobile phone.

Any ideas of what my best route may be?

Thanks in advance x

GMS

Speak to your bank and see what, if anything they could offer you.
Then speak to a 'Whole of Market' broker to see what is available elsewhere.

PhoebeC

Good advice above.

I'd also add:
- Check your Credit Rating using one of the online sites and if you spot any problems with it, you can sort them out well in advance of a mortgage application. Remember, you largely get a good credit rating not simply by being "law abiding" but by obtaining credit and repaying it.
- Try to make sure you have a way of proving your income if you are not a bog standard permanent payroll person. When I used to be self employed I was always seeking to minimise my taxable earnings and that's a bummer when at the same time you are trying to prove a nice income to a bank :-)

PC