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Mortgage Criteria

edited 31 December 2012 at 7:25PM in House buying, renting & selling
2 replies 639 views
msmyth18msmyth18 Forumite
156 Posts
edited 31 December 2012 at 7:25PM in House buying, renting & selling

I am after some advice! Myself and my partner are both first time buyers. We have a mortgage in principle with HSBC and a joint income of £37,250.

What is the likely hood of us gaining acceptance on a house worth approx £170,000 with a 10% deposit? The bit that worries me is that on a couple of occasions I have gone into my interest free overdraft because I transferred too much into savings!

We have enough for 15% at a massive stretch but the house in question is in need of modernisation(i.e central heating!)


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