First time buyer with existing debt...

daydreambeliever123

My partner and I are looking to buy a house together within the next few months - we're both first time buyers - have a joint income of 40,000 - approx 12% deposit. Neither of us have had defaults/late payments etc however I will still have a debt of about 3000 when we eventually apply (from a personal loan I took out a couple of years ago)

Has anyone had experience of getting a mortgage with debt? I have never missed payments on it and at £125 a month repayment, affordability should be fine...

Any advice would be much appreciated!

thegirlintheattic

Why not just pay it off using some of your deposit? On your income £3,000 shouldn't be that difficult to replace. Then you will have no issues with the mortgage. Loans that will exist after completion reduce the max. loan you can get.