We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Mortgage Advice please..

Feanor
Posts: 513 Forumite
Hi,
Sorry if some of these questions have already been answered, i did try to do a search!
Myself and my partner would like to go and see a mortgage advisor when we find one. We earn £48,500 a year (to go up to 50k next month). Last week i paid off all my credit cards and am now officially debt free. It was only about £2000 altogether so i didn't have massive debts.
If we go see a mortgage broker this weekend and ask how much we can borrow, will it show that my balanes have been cleared?
We really need to borrow 4.5 times our salaries to be able to afford anything decent down here so we need to make sure everything is in order. Do you think we should wait a little while longer before we go see the advisor?
Thanks for any advice.
Sorry if some of these questions have already been answered, i did try to do a search!
Myself and my partner would like to go and see a mortgage advisor when we find one. We earn £48,500 a year (to go up to 50k next month). Last week i paid off all my credit cards and am now officially debt free. It was only about £2000 altogether so i didn't have massive debts.
If we go see a mortgage broker this weekend and ask how much we can borrow, will it show that my balanes have been cleared?
We really need to borrow 4.5 times our salaries to be able to afford anything decent down here so we need to make sure everything is in order. Do you think we should wait a little while longer before we go see the advisor?
Thanks for any advice.
0
Comments
-
YOu can go now to see the adviser
Just give them the whole scenario and they will take all your income into account rather than make deductions for the debts you have
Should be straightforward
HTHI 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 -
Oh Thats great, thanks! Its very exciting.
Just need to find a broker now!
Do you think 4.5 times our joint salaries should be ok? We dont have any other outgoings a month now and would have a 5% deposit.
Thanks0 -
that should be fineI like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)0
-
That all looks OK
Just remember that with a 5% deposit most lenders will charge a Higher Lending Charge. Some lenders do not charge this fee, but compensate by charging a slightly higher interest rateI 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 -
Thankyou, i really appreciate your help.
x0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.4K Work, Benefits & Business
- 599.7K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards