Quick Questions From First Time Buyer

shane8960

Hi All,

I am currently living with my girlfriend at her parents house. We have £5k deposit (plus a little bit extra we would rather keep as a "buffer" for us).

I earn £14.5k but think I may be getting a pay rise soon - the only thing is I have only been working here for 2 months, but have been in constant employment since leaving school 4 years ago.

My girlfriend only earns £6k and has only just started this job after finishing college.

I also have about 20 months left to pay on a loan at £170 a month.

We have found a shared ownership house we are interested in, which is £68k for a 50% share. We rang up and the rent is £85 a month, but the estate agents have said if we are interested to move quick as these places dont come round often for this price.

Basically, I want to know if its going to be possible for me to get a mortgage given our current circumstances - and is it only certain places that will give you a mortgage for a shared ownership? or will anybody?

Thanks, Shane