Best 80% LTV for Me?

timcreggan

Hi, me and my partner are FTBs, i'm in the RAF and was hoping you guys would be able to point me in the right direction here.

i'm looking to buy a house for around £150k (actually have one in mind already) and have 36.5k available to me for a deposit, fees etc.

the deposit money is made up of:

25k from the old man
8.5k LSAP (an intrest free loan from the mod)
3k in actual savings

in addition to this i can guarentee that my pay will rise and by how much over the next 5 years and that in 4 years time i'll be getting a nice 11k bonus from the MOD too (though i could split it and take around 4k now).

i'm looking to buy soon for reasons i won't bore you with.

i've been looking at the one account as it seems i could pay my bonus into it without any penalty and save a small fortune in intrest over the years, but are there any probs with that?

is it worth me taking the 4k now and a smaller bonus overall to secure a 75% LTV?

if thats not complicated enough we'll be joint buying (she'll be living in the house) but i'll be living 200 miles away during the week and only home on weekends - will any comapnies take a dim view of this?

any help much appreciated as there just seems too much choice here

EDIT - for those who are aware of mod housing policies etc. i've looked into their housing schemes and none of them are really right for me.

[Deleted User]

can you be sure you will still have a job in the medium term?
as for you not living there during the week thats NO problem,have you seen a "whole of market"broker to discuss your options?

timcreggan

i'm in the process of talking to an all of market broker and i've been though just about every comparison site i can find (although i know the rates they advertise won't necessarily be the ones avaliable to me).

as for my work - i've still got 5 years to run on my raf contract and it's unlikely they'll get rid of me in the defence review. i'd say its more likely i'll see and extension to my contract keeping me for 8 years.

other brokers i've taken an intrest in are

first direct (5 year fix - £99 setup, 4.39% rate)
darlington BS (5 year fix, £1100 setup - free valuation (in the local area) - 3.99% rate)

is it worth contacting both of these lenders direct - will it affect any future offers i get in the future?