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Couple Question As First Time Buyer
keh7486
Posts: 8 Forumite
Q1
Hi me and my girlfriend are looking to buy a flat in 6 months.
i have a good credit rating but my girlfriend has a poor one as she ran up a bill and couldlnt pay before i meet her. She is currently paying off this amount which is about £1500 now.
Should we apply for the mortgage together or would it be better off to apply on my own bearing in mind the house hold income would go down
Q2
i have heard of gifted deposit,
if i put in a offer on a flat for say £5000 under the asking price and it was excepted could this go toward my deposit as a gifted deposit because the value of the property would be £5000 higher.
Any help with this would be much appreciated
bear in mind im a first time buyer so go easy on me.
Thanks
Hi me and my girlfriend are looking to buy a flat in 6 months.
i have a good credit rating but my girlfriend has a poor one as she ran up a bill and couldlnt pay before i meet her. She is currently paying off this amount which is about £1500 now.
Should we apply for the mortgage together or would it be better off to apply on my own bearing in mind the house hold income would go down
Q2
i have heard of gifted deposit,
if i put in a offer on a flat for say £5000 under the asking price and it was excepted could this go toward my deposit as a gifted deposit because the value of the property would be £5000 higher.
Any help with this would be much appreciated
bear in mind im a first time buyer so go easy on me.
Thanks
0
Comments
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Q1: If you apply for the mortgage on your own how would your girlfriend feel about making payments towards a property she did not have an interest in?
Q2: What you are describing is not a gifted deposit.0 -
Helpful. .0
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Wouldn't you be better off paying the £1500 debt off right now and then saving the equivalent amount back up for the deposit (if you need to - but sounds like you do)0
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Pay off your debts and raise a bigger deposit. Prices are falling all over the country even London now:j so when you come to buy things will be cheaper.
Avoid gift deposits, very few lenders deal with them and it is effectively a land registry scam.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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