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First time buyer advice
minnie9239
Posts: 10 Forumite
Hi everyone 
Ok so me and my fiance have decided we want to start looking into buying our own property after renting for last 3 years. We are looking at spending about £90,000 on a house with a £10,000 deposit. We are both employed earning £23k each Im 28 he is 25 he has no debt at all and I have a loan for £5k. No CCJs or bankrupcy. Both have a credit card but pay in full every month. No missed payments by either of us. Question is........based on that info do you think we will struggle to get a mortgage?? Im not sure what criteria they use when judging if you qualify for a mortgage??
xxxxx
Ok so me and my fiance have decided we want to start looking into buying our own property after renting for last 3 years. We are looking at spending about £90,000 on a house with a £10,000 deposit. We are both employed earning £23k each Im 28 he is 25 he has no debt at all and I have a loan for £5k. No CCJs or bankrupcy. Both have a credit card but pay in full every month. No missed payments by either of us. Question is........based on that info do you think we will struggle to get a mortgage?? Im not sure what criteria they use when judging if you qualify for a mortgage??
xxxxx
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Comments
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You should be fine, ensure you get your Experian and Equifax reports and just double check the information..I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
Based on what you have said, if there are no issued on your credit report i cant see you having any problems in the slightest.
Income is fine, deposit meets the minimum, some credit history which what you have said seems ok.
If you get declined i would be very surprised.I 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 checked my score and it was 875 which is only fair
I didnt realise that when I was getting insurance quotes they ran credit checks!!! x 0 -
The "score" is irrelevant - do not worryI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
Thanks guys onwards and upwards now for the hard part........saving!!!!! x0
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