First time buyer - questions

Doc

Hi all. Ive been lurking for awhile but now i'm wondering if some of you could help with a few questions...

We are hoping to buy a house in the SE.
Joint application my wife and I. I earn £54k. My wife £29k
Price ~ £300k. Deposit about £60k (LTV 80%).

Ive found that HSBC offer the best rates. (3.29% tracker and ability to make big overpayments). There online thingy would suggest they would lend us the money. We also have a shared current account with them. I keep hearing though on the forums and elsewhere they can be very picky. Is the reputation true? Would they lend us £240k with a combined income of £83k (x2.9 combined salary)

Also my wife is a foreign national with indefinate leave to remain...therefore not on the electoral register. Will that be a problem?

Finally we are renting at the moment but due to the nature of my job (trainee surgeon - frequently changed hospital/location till now hence urge to buy!) All our bank/savings/mobile phone bills/car insurance etc go to my parents home address. Only bills we get at our rented house are council tax, water/gas/electricity and obviously rent. Is it better if we change it all to our current rented house?

Thanks in advance. Im really looking forward to owning our own home but the uncertainty of the application process is making me very nervous.

ACG

I dont see you having a problem getting a mortgage.
HSBC can be tricky going off the reports on here and while the things you mention are only minor im not sure how hsbc would view them.

It might be worth an application with them, if it fails then other lenders wouldnt have too much of a problem with you i wouldnt have thought.

vacheron

///Doc wrote: »

......Also my wife is a foreign national with indefinate leave to remain...therefore not on the electoral register. Will that be a problem?

...... All our bank/savings/mobile phone bills/car insurance etc go to my parents home address. Only bills we get at our rented house are council tax, water/gas/electricity and obviously rent. Is it better if we change it all to our current rented house?

We were in the same position when we applied to Barclays (only difference was our car insurance was at the rented address too) and none of the above caused us any problems.

Good luck.