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First Time Buyer
Steameh
Posts: 369 Forumite
Afternoon all,
Looking to step into the big wide world of mortgages at some point this year.
Currently living at home with my Mum in a 3 bedroom house. My Mum is selling up and ideally wants to downsize to a 2 bedroom house.
My current situation is as follows.
Salary: £21000 paid 4 weekly
Overtime: ~4 hours every 4 weeks
Bonus: £500 - £1500
Debt: £3500 at 0%
Savings: £1500 + £600 every 4 weeks.
I've had a mortgage assessment and they have said they can lend me £70560 with the credit cards and £78000 without.
Properties I am looking at are around £80k so with a 5% deposit I should be able to achieve this providing the credit cards are gone.
How easily available are 95% mortgages? My credit history should be top notch, had my fair share of debt but always paid in time and overpaid the minimum.
Looking to step into the big wide world of mortgages at some point this year.
Currently living at home with my Mum in a 3 bedroom house. My Mum is selling up and ideally wants to downsize to a 2 bedroom house.
My current situation is as follows.
Salary: £21000 paid 4 weekly
Overtime: ~4 hours every 4 weeks
Bonus: £500 - £1500
Debt: £3500 at 0%
Savings: £1500 + £600 every 4 weeks.
I've had a mortgage assessment and they have said they can lend me £70560 with the credit cards and £78000 without.
Properties I am looking at are around £80k so with a 5% deposit I should be able to achieve this providing the credit cards are gone.
How easily available are 95% mortgages? My credit history should be top notch, had my fair share of debt but always paid in time and overpaid the minimum.
EMERGENCY FUND CHALLENGE - £2,292.05 / £6000
DEBT FREE DATE - 16/02/2021
Pay Debt by Xmas 2021 - No.134 - £2,871.64 / £2,871.64 - 100% Paid
Pay Debt by Xmas 2020 - No.134 - Target: £7,985 / Achieved: £5,113.36
Pay Debt by Xmas 2019 - No.134 - Target: £15,985.00 / Achieved: £8,000
DEBT FREE DATE - 16/02/2021
Pay Debt by Xmas 2021 - No.134 - £2,871.64 / £2,871.64 - 100% Paid
Pay Debt by Xmas 2020 - No.134 - Target: £7,985 / Achieved: £5,113.36
Pay Debt by Xmas 2019 - No.134 - Target: £15,985.00 / Achieved: £8,000
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