Liklihood of obtaining a mortgage?

lozziem

Hi All,

I'm not sure if I'm posting on the correct board so please re-direct me if needed.

I got married last year and as such our savings and credit cards have been hit heavy. I'm now in a good few thousands worth of debt which I am repaying and although it is manageable it is not allowing us to save much for a mortgage deposit.

I know the general advice is not to save whilst trying to pay off debts but we are currently in a tiny flat and are desperate to move. Another rental move would cost around £2000 and this seems like a waste if we are also trying to save to buy but I'm wondering how much more we may have to save above this amount to get a mortgage? I'm a key worker but we live in the south east. I have a much improved credit file over the past few years (several years ago I had several defaults but no CCJ's). I do however have quite a large overdraft (£1500) that I continue to live in as I've been trying to reduce the credit card debt. On this basis I don't know if I would be able to apply for one of the open market homebuy mortgages?

Advice on who I would be best to take these questions to would also be gratefully received.

maninthestreet

You're clearly living beyond your means - clear your debts, and then start saving for a deposit. Sorry if this was not the answer you were hoping for.....