FTB General morgage advice wanted.

just_t

Hi all first post woooo,


Basically Im renting with my girlfriend and we want to buy a property next year. We have both been in our current jobs for a year and aged 22 and 23.

We earn 40,000 between us basic. She regularly gets bonus and I get shift allowance. Will lenders take extra income into account?

Deposit wise we are doing O.K. and are on schedule to have a minimum of 20k deposit and hopefully closer to 25k by mid next year.

The price of property we have been looking at is 140-150K so hoping to lend ~115-130K. Is this a realistic amount to lend?

Regarding credit rating I have only just got a credit card and never used my overdraft. I am trying to spend an amount every month on my credit card to get my rating up. Any tips for getting it up? Could my relative newcommer status to credit go against me? My girlfriends rating is decent.

We will be going to see a few morgage advisors for more advice buy your help would be much appreciated.

adios,
tom

TrickyDicky

Sounds like you're going fine towards getting a house and the mortgage you want should be fine, without any extra income. Just keep up the good work and pay off those bills/credit cards off in full and on time. You might want to start some viewings off now as it can take a while to get everything finalised. But remember december is one of the slowest months and more properties will probably come on the market in the new year.

Yorkie1

Make sure you are on the electoral roll.

Do you have a mobile phone contract or have you ever taken out any other form of credit e.g. for a TV?

just_t

Yorkie1 wrote: »

Make sure you are on the electoral roll.

Do you have a mobile phone contract or have you ever taken out any other form of credit e.g. for a TV?

I have always been on PAYG and never taken out any other credit, no. My girlfriends car is on finance, she wanted it this way as works for a broker and got a FANTASTIC deal, but apart from that we are pretty un-credited. We are on the electoral roll, yes