£4,200 net income per month and can't get a mortgage!

MoneyMagic01273

yellowrock wrote: »

here here MoneyMagic01273 , I have just been shot down in flames on my own post for accusing someone for being troll like in their posting. How is it acceptable for others to comment so vidictivley on others way of life's? I should learn to expect criticism and not advice on these boards which is such a shame.

Well, I haven't been posting actively for long but I've lurked long enough to recognise its always the same cool cats that gleefully rush in to post some patronising reply about how tough life's choices are, before throwing in a couple of baseless conclusions they have drawn from some percieved tone in the OPs post... and then maybe pass a few needless judgements about someone's life choices, just for good measure.

Lastly if you're lucky they'll occasionally lazily throw in a few pieces of *slightly* more helpful advice like "save a bigger deposit" - but thats really more so that they can claim to have contributed something marginally useful to the discussion which they wave in your face when you try to call them on the tone of their responses.

Thrugelmir

MoneyMagic01273 wrote: »

Well, I haven't been posting actively for long but I've lurked long enough to recognise its always the same cool cats that gleefully rush in to post some patronising reply about how tough life's choices are, before throwing in a couple of baseless conclusions they have drawn from some percieved tone in the OPs post... and then maybe pass a few needless judgements about someone's life choices, just for good measure.

Lastly if you're lucky they'll occasionally lazily throw in a few pieces of *slightly* more helpful advice like "save a bigger deposit" - but thats really more so that they can claim to have contributed something marginally useful to the discussion which they wave in your face when you try to call them on the tone of their responses.

Feel free to contribute to the discussion. As that's the whole purpose of the forum. Sitting on the sidelines as a lurker achieves very little.

MoneyMagic01273

Thrugelmir wrote: »

Feel free to contribute to the discussion. As that's the whole purpose of the forum. Sitting on the sidelines as a lurker achieves very little.

Which is why I choose to contribute now.

But on the contrary, I achieved a lot as a lurker. I quietly educated myself about lots of things before I decided I could [occasionally] add value myself to the discussions.

Thrugelmir

MoneyMagic01273 wrote: »

Which is why I choose to contribute now.

Trouble is. Without the hardcore regulars on this particular forum. That many posts would simply go unanswered. The number of mortgage brokers as they only seem to last for a limited period of time. Since the boom years have diminished in number too. A reflection of the fewer number of mortgages sold now.

yellowrock

OP - good luck with your quest for a mortgage, I am sure with the right advice and some pointers on here you will succeed. Congrats on your impending marriage too.

My advice would be to think long and hard about the future and all the possibilites that come with it eg, reduction in income if having children - due to less hours, job security. On the plus side there are wage rises too!

MoneyMagic01273

Thrugelmir wrote: »

Trouble is. Without the hardcore regulars on this particular forum. That many posts would simply go unanswered. The number of mortgage brokers as they only seem to last for a limited period of time. Since the boom years have diminished in number too. A reflection of the fewer number of mortgages sold now.

I agree with you. But I also believe there are a number of "regulars" that don't quite provide the level of genuine support they think they do.

Anyway, no need to debate that endlessly. It is what it is, and MSE is no different to every other forum I've encountered.

Marie27lol

??? Have you noticed, that the OP has not responded since page 2???

Look at her posting details, she is a newbie. PLEASE respect this.....

SO F stop assuming she is a regular reader, and has learnt a lot....

Lily, it is so sad that banks don't read / comprehend previous history. Both OH and I were in long-temp prev jobs (18mths+), and it was just suggested we get 20% deposit, despite the fact that I will have a mortgage free property (paid) we will rent out. = I am a excellent, safe, paying in advance payee (but not a major incomer, as I pay in advance).

We have come to the conclusion, that if as a buyer we can't make money for the bank.....

Thrugelmir

Marie27lol wrote: »

despite the fact that I will have a mortgage free property (paid) we will rent out.

Then for tax efficiency you should be remortgaging your current property (at least up to its original purchase cost).

MagicCats

25k wedding or a 15% deposit on a new home? Sounds like a first world problem to me.

lilygirl85

Wow I didn't think there would be so many posts since I logged in yesterday morning!

I am very pleased to report that my amazing parents have offered to lend us some money so that we have a 15% deposit. Whilst we know that we could have easily saved the extra money, we don't want to lose the house.

We have now been approved by NatWest. We decided to stick wiht them because the monthly repayments are so low - only £633 per month for a £140,000 mortgage. We were advised by two separate, independent brokers that we would find it very difficult to get a better offer.

Thanks to everyone who offered moral support and advice. I hope I didn't come across as assuming that for some reason we were "entitled" to a mortgage - that was never my intention. I am genuinely concerned about the lack of accessibility to 90% mortgages. My fiance and I are lucky to have a decent income and to have had a 10% deposit but most of my friends/colleagues of the same age just aren't in that position. They are all saving money on the assumption that they will be able to get a 90% mortgage, but my experience clearly shows that it isn't necessarily going to be the case.

By the way, I'm not sure where the £25k wedding idea came from - I'm not stupid! Our wedding is very carefully budgeted and is going to cost just under £10k for our dream day. Some may think this is wasted money but I absolutely do not care!!!