PLEASE READ BEFORE POSTING
Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Mortgage and credit card debt
mummybear14_2
Posts: 58 Forumite
We have just agreed the price for the sale of our house and have paid £1000 deposit and a new build. I was the main earner until I dropped down to part time work and so pay the majority of the family bills and my husband works full time plus a weekend job. My concern is that we will not get credit as I have about £8000 on credit cards plus a car loan of £4000. My credit rating is average but my husband had nothing on credit and his rating is excellent. Will the debt affect us getting a mortgage? We will have 10% deposit and enough to pay fees etc from the sale. Any help please as I'm really starting to worry and the mortgage people are a bit slow for my liking.
0
Comments
-
The repayments will come off your affrodability.0
-
As above. The mortgage company will look at your total income, the total amount of debt and work out whether you can afford the mortgage. And by afford, they don't mean at current interest rates but if it goes up 3 or 4%.0
-
Thanks for the replies so maybe my new is more than a dream lol thanks again :-))0
This discussion has been closed.
Categories
- All Categories
- 347.2K Banking & Borrowing
- 251.6K Reduce Debt & Boost Income
- 451.8K Spending & Discounts
- 239.5K Work, Benefits & Business
- 615.4K Mortgages, Homes & Bills
- 175.1K Life & Family
- 252.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards