Bedazzled in Bolton

leighroybrownshoes

Hi everyone your advice please,

I am looking to buy a house with my girlfriend, we both earn £24,000 each she has a £300 a month car repayment but other than that we are solid.

Looking to buy a house under £125k to avoid Stamp Duty, Would have around £5000 as a deposit and to cover fee's need to borrow the rest, what is the best type of Mortgage we should be looking for? who with? how much would our repayments be? we are first time buyers, we would not want an interest only mortgage.

Also we are not married, can we organise some type of legal document that would enable us to own the house 50-50 if we split up and went seperate ways?

Many Thanks

MortgageMamma

You seem to have put a fair bit of thought into this already, have you viewed any properties?

You are well within your limits financially to afford a £125,000 mortgage, and ideally you should have a least a 3%, more preferably a 5% deposit

What are your credit ratings like have either of you defaulted or had ccj's

leighroybrownshoes

No CCJ's, good credit rating as far as I know (well I bought a sofa on o% intrest last year with no problems) no savings to do an offset mortgage, we both have student loans but that shouldn't effect us as it's intrest rates are below bank of England base rates.

Just want to know what is the best type of mortgage for us and who is it with? in your professional opinions/experiences.

Thanks

we have started to look on right move for places locally and plan to check out a few, want to know what our top budget should be, any legal eagles know of a contract we can draw up between ourselves in the worst case scenario we split up (boo hoo - only joking) that doesn't involve paying lawyers any fee's?