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mortgage help first time buyer
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smegy9
Posts: 45 Forumite
looking to get a mortgage of 103000
My salary consists of the following at the moment:
19000 per anumn + 1900 guranteed profit share.
my salary will increase by 5.5% in april.
Will it be possible for me to get a mortgage for this amount?
The property I have in mind is 115000 and I have a 12 grand deposit.
Payments won't be a problem as I have my girlfriend staying there too who will help.
I will also be in line for a new job in 2 months time on 24000 and 2400 profit share.
Anyone any idea who i should contact about a mortgage?
My salary consists of the following at the moment:
19000 per anumn + 1900 guranteed profit share.
my salary will increase by 5.5% in april.
Will it be possible for me to get a mortgage for this amount?
The property I have in mind is 115000 and I have a 12 grand deposit.
Payments won't be a problem as I have my girlfriend staying there too who will help.
I will also be in line for a new job in 2 months time on 24000 and 2400 profit share.
Anyone any idea who i should contact about a mortgage?
0
Comments
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btw
i have no credit issues
i am a graduate studying professional exams within a major financial institution0 -
not a morgage advisor etc but ive been offered 120k with a 20 grand income, frankly i get the impression as long as you have a reasonable deposit most banks will just let you make up figures and give you pretty daft multiples.
if the banks do become responceable and limit you to 4x salay then you could get your gf to write a letter saying something like she would be paying 5 grand a year rent and get a morgage which takes this into account.0 -
who offerred you 120k?0
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As long as you have no other major outstanding credit, you should be fine with a few lenders
It it was just yourself I would say look closely at the affordability issue, however if you your gf contributing as well then that will obviously help
The only warning I would put here, is that relationships do break up, so whilst your gf is there then affordability should not be an issue, however how would you be able to cope if you did not have that extra income in the background
HTHI am a Mortgage AdviserYou 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.0 -
i will be on a far increased sal probably around 24 grand plus the 10% guranteed profit share very soon, say within 2 months maybe even one. so affordability shouldn't be a problem.0
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