Mortgage Advice Required....PLEASE

lacla1966

Hi, looking for some advice please. Hubby and I are hoping to move and would like advice on mortgages available etc. We bought our council flat in 1992 and the mortgage is paid in full.

House value £75,000 (we will use the full amount as a deposit)
Savings £10,000 (willing to use this as deposit as well)
No Debts
I'm cannot work due to ill health and Hubby has been self employed for almost 20 years. We have endowments of £40,000 (hopefully) due in April 2013.

Given our circumstances, would we be able to secure a mortgage? Which companies would be willing to lend to us? We are looking for a repayment mortgage, but are willing to use the endowments if we must.

Any advice would be appreciated as we don't know what value of house to look at.

UK007BullDog

Due to your many benefits and your partners self employment there are too many angles and it would not be right to discuss them here.

I suggest you visit a broker to discuss your plans. Some lenders take a lot of benefits in account, some hardly any. The child tax credits I think will not count with any lender as the money is for the kids, not you. But going by what you told us so far the amount you could borrow will be very little just going by hubbies income would be around £21,000. Have you got an accountant or do you do your own self certify accounts with the tax man?

What kind of house do you have that is worth £50,000 in Glasgow? Is it an ex-local authority property? Possibly made of concrete? Have you already put it on the market? Sorry for being so nosey, I am just very intrigued.