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Going to apply for mortgage soon...
reissgirl
Posts: 11 Forumite
We've sold our house quicker than expected and had our offer accepted on the house we want to buy. So next step is to see a mortgage broker. At the moment I have 2 loans, balances totalling £6500 and about £3k on credit cards. However most of this debt will be cleared before completion (I'll be using my annual bonus from work to pay it off), leaving around £2k on cards max.
Will lenders take this debt out of my affordability assessment if I apply now but explain it will be mostly paid off before they release the funds?
We have 15% deposit. The house we're buying is £218k. Our incomes are 35k and 26k.
Thanks for any help.
Will lenders take this debt out of my affordability assessment if I apply now but explain it will be mostly paid off before they release the funds?
We have 15% deposit. The house we're buying is £218k. Our incomes are 35k and 26k.
Thanks for any help.
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Forgot to mention we have clean credit histories.0
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