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What are my chances are getting a mortgage?
dorsetlady
Posts: 295 Forumite
I was wondering if anyone could tell me if I have a reasonable chance of getting a mortgage.
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Comments
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What is your credit like?Pay off all my debts before Christmas 2015 #165.0
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If you are clearing your credit card each month, then your chances are fairly good for going a long way to £60k. But your age counts against you in that you have 12 years to 60 and 17 years to 65, which means that the monthly payments will be higher. Also your salary is low, so 4 times salary is much less affordable on £15k than it would be on £25k.
I think the question you should be asking lenders is 'how much would you lend', rather than 'will you lend me £60k'
[Sorry by the way if this thread is only for people associated with Dorset]Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
I've just completed a quick quote on HSBC and it seems that the most I could get is £49K. What annoys me is that is won't let you get a mortgage which lasts until you are over 65 when I HAVE to work until I'm 66 (until the Government raise the age again).0
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If you have £49k on offer from an on line check with HSBC, I would say that you could probably get the full £60k by shopping around.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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DVardysShadow wrote: »If you have £49k on offer from an on line check with HSBC, I would say that you could probably get the full £60k by shopping around.
Thanks - I will start shopping around today.
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I've just run the Halifax affordability calculator and it offers £64,640 over 17 years based on the lowest "C" credit score pass.
Nationwide's gives £62,000 and Abbey's £66,411 for a medium score.
So there are options.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Hi dorsetlady
I would recommend going to see a broker who will know which lenders you have a chance with. Do I assume you are living in Dorset? I would happily recommend my broker. No ties with him other than being a happy customer for several years now and know many others the same.
PM me if you would like his information.
Foreversummer0 -
Thought I would join in purely to add to the "Dorset" thread!
I found HSBC were more picky than most when arranging my first mortgage so I ended up not going with them initially. Try calling London and Country http://www.lcplc.co.uk/ for some free advice about who to approach. I found them very helpful 0 -
Glad it worked out for you 0
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