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First time buyer
goliath832
Posts: 5 Forumite
Hi there,
I am looking to purchase my first house for around £85000.
I have £20000 deposit 10K savings 10K parents and earn £24K a year.
I have had perfect finances for the last 2 years but previously have had late cc payments and gone over my overdraft limit(however my equifax credit report doesn't mention these). I now have no overdraft or other debt apart from a credit card payed in full every month.
So would I be likely to succeed with an application and which lenders would be best to target.
Thanks for your time.
I am looking to purchase my first house for around £85000.
I have £20000 deposit 10K savings 10K parents and earn £24K a year.
I have had perfect finances for the last 2 years but previously have had late cc payments and gone over my overdraft limit(however my equifax credit report doesn't mention these). I now have no overdraft or other debt apart from a credit card payed in full every month.
So would I be likely to succeed with an application and which lenders would be best to target.
Thanks for your time.
0
Comments
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If you can get under the magical 75% LTV mark by putting down £21,250 on an £85k purchase, you'll probably have the pick of the lenders and the pick of the deals.
Even if you can't quite manage that, I'd be surprised if you were declined by anyone, TBH.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 -
Thanks for the help, put my mind at ease probably save a bit more and then apply.0
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1st purchase = take your time, no rush, every month longer increases your deposit.0
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