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Help if possible please
lindseyh2
Posts: 43 Forumite
Hi
I am a first time buyer,
to cut a long story short(i hope) my boyfriend and i currently earn about 29,000 a year between (sad I know!) he also gets 100 a month from his dad, I currently live in rented property and he lives at his parents due to space and saving money, we have 20,000 deposit and can get a bit more if necessary, we have also got 5,000 for fees etc, we dont want overstretch ourselves and were looking for a mortgage at most of £110,000 is this feasible? we are no debt, and do not pay out anything except bills for home and savings, we currently do not run a car and will probably not need to in the future
The only other problem is he has never had credit except for a bank credit card a few years ago, I have had credit but had a couple of missed payment 3 or 4 years ago on a store card (1 month late) when I went on holiday and forgot, also although I have lived in my rented property for three years, I was not on the electoral roll, (i thought I was!) but should be on it now
is there any hope for us, and will this affect us badly?
I am a first time buyer,
to cut a long story short(i hope) my boyfriend and i currently earn about 29,000 a year between (sad I know!) he also gets 100 a month from his dad, I currently live in rented property and he lives at his parents due to space and saving money, we have 20,000 deposit and can get a bit more if necessary, we have also got 5,000 for fees etc, we dont want overstretch ourselves and were looking for a mortgage at most of £110,000 is this feasible? we are no debt, and do not pay out anything except bills for home and savings, we currently do not run a car and will probably not need to in the future
The only other problem is he has never had credit except for a bank credit card a few years ago, I have had credit but had a couple of missed payment 3 or 4 years ago on a store card (1 month late) when I went on holiday and forgot, also although I have lived in my rented property for three years, I was not on the electoral roll, (i thought I was!) but should be on it now
is there any hope for us, and will this affect us badly?
0
Comments
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lindseyh2 wrote:Hi
I am a first time buyer,
to cut a long story short(i hope) my boyfriend and i currently earn about 29,000 a year between (sad I know!) he also gets 100 a month from his dad, I currently live in rented property and he lives at his parents due to space and saving money, we have 20,000 deposit and can get a bit more if necessary, we have also got 5,000 for fees etc, we dont want overstretch ourselves and were looking for a mortgage at most of £110,000 is this feasible? we are no debt, and do not pay out anything except bills for home and savings, we currently do not run a car and will probably not need to in the future
The only other problem is he has never had credit except for a bank credit card a few years ago, I have had credit but had a couple of missed payment 3 or 4 years ago on a store card (1 month late) when I went on holiday and forgot, also although I have lived in my rented property for three years, I was not on the electoral roll, (i thought I was!) but should be on it now
is there any hope for us, and will this affect us badly?
Yes there is hope with a 20k deposit on a 100k mortgage there is an almost certain chance you'll get a mortgage, it isn't so much about a couple of missed payments its about can you afford a mortgage, get yourself on the electoral roll, lenders see that as a requirement. Good luck, try northern rock,0
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