Mortgage question for FTB

carolinep1

Dear all
This is on behalf of my son and his girlfriend, they are 19 and 18, earn £28K between them and want to buy a house for £120K. They have a small deposit. No CCJ's or bad credit history, will they get a mortgage for this amount and who would be favourable lenders?

Thanks in adevance.

homer_j_3

They are looking to borrow 4.2 x their joint income with no deposit - you say a small deposit but not exactly how much. This will obviously bring down the income multiples.

There are lenders that will consider this but just because they can borrow it, it will be more important that they can afford it.

I cant recommend any lenders as I really dont know the circumstances fully but if you suggest they see a mortgage broker they will be able to do this and explain things fully.