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Could I get a mortgage with the following...
thedogsgottago
Posts: 13 Forumite
PT wages of around £8,000 pa
Child Maintenance of around £6500
Tax Credits of around £10,000
with child care costs of around £3500
A deposit of around £90,000
and a very good credit rating.
THe figures are just estimates because I have not separated from my partner yet, but it looks inevitable, so I am trying to work out what is the best for me to do.
I was thinking either trying to buy my own home, or do a buy to let with the £90,000 and rent somewhere else for me and the kids.
Any advice greatly appreciated.
Child Maintenance of around £6500
Tax Credits of around £10,000
with child care costs of around £3500
A deposit of around £90,000
and a very good credit rating.
THe figures are just estimates because I have not separated from my partner yet, but it looks inevitable, so I am trying to work out what is the best for me to do.
I was thinking either trying to buy my own home, or do a buy to let with the £90,000 and rent somewhere else for me and the kids.
Any advice greatly appreciated.
0
Comments
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Lenders are quite picky and the high reliance on benefits may limit your choice but I would expect with the above for you to still have options.
Go and see a good 'Whole of Market' broker to go through the specifics.Thinking critically since 1996....0 -
Look forget the BTL idea you need somewhere to live.
Can you get a mortgage YES but its more a case of how much the property costs you want to buy.
Are you living in the family home now ? how much is it worth and do you want to stay there?
property prices in your area are very important, could mum & dad be guarantors ?
Buy and selling properties costs a lot of money in fees & taxes.
My partner ( now the wife) got a mortgage to buy her EX out and she only worked P/T
She had a good lender YBS which took into account her benefits, wages, maintence etc0 -
Why not stay in the house you already have?0
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Thrugelmir wrote: »Why not stay in the house you already have?
I can't, he refuses to leave.
I am trapped at the moment, I don't know how to get out, I am thinking of just leaving with nothing, but I can't claim HB with my name on the house and mortgage.0 -
What's the source of the deposit?0
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What area are you in, is it possible to buy a place for £90k?0
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