Are Lloyds a strict lender? Want to buy 1st house...

x.sophie.x

Hi All,

Thank you for your responses... To clear up a few questions:

Does it have to be a council house? No, it can be any house in the local area - postcode covered by the scheme. The council have signed up for this as for every new time buyer they help making their 1st purchase, it can help up to 5-6 other people in a chain sell their homes... Therefore helping the local economy.

Have the local authority approved me? We are looking to buy in one of the local authorites covered by the scheme. As far as I am aware, our dealings are with Lloyds direct. I believe as long as Lloyds approve us and the house is within the postcodes set out by the council, then this should be ok. As I mentioned lloyds gave us an AIP. So theorectically we should be ok, but I know that there is a big difference in an agreement and a full mortgage offer. Hence my question about my missed payments and whether Lloyds are a strict lender?

Thrugelmir

x.sophie.x wrote: »

As I mentioned we have £3k debts total now, which is better than we were a couple of years ago

Clear them with your savings.

With £60k of income you should be able to build your deposit rapidly.

x.sophie.x

In response to Beecher2,

Don't worry, I'm certainly not counting future pay rises in my affordability for a new home! I just mentioned my work as I am putting off a future career move in order to get our home sorted. The longer our house move takes, the longer Im not progressing in my career. I plan to continue working in my local area, so i am happy putting down roots now.

Moving away from my local area is something I have already considered, (with a new job offer in hand for more than a 14k rise) but had to turn down due to personal circumstances. But this is really going off the topic