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Would I be able to get a mortgage?
supersaversarah
Posts: 35 Forumite
Basically, I have just got a new job as a teacher. The starting salary is approx £21,000. I would be looking for a 50% mortgage (about £60,000). Although I do not start my job til september, I have a confirmation letter and the contract stating what my income would be. My dad is also prepared to act as guarantor if needed.
Do you tihnk I will be able to get a mortgage if I apply for one now. The reason for the rush is that a house has come onto the market within my budget in the area I want, and that does not happen often.
What should be first move be? Any help.advice much appreciated.
Do you tihnk I will be able to get a mortgage if I apply for one now. The reason for the rush is that a house has come onto the market within my budget in the area I want, and that does not happen often.
What should be first move be? Any help.advice much appreciated.
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Comments
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The answer is yes
There will be a few lenders that could look at this for you, depending on your full circumstances as always
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 -
I would look to speak to a professional as it should be possible. You say that you have a contract - how long does is the contract for?
The large deposit would also help too!I 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 -
Yes, that sounds very do-able. You need less than 3x income multiple, and with your stable employment and dad acting as a guarantor you should be fine.poppy100
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supersaversarah wrote: »Basically, I have just got a new job as a teacher. The starting salary is approx £21,000. I would be looking for a 50% mortgage (about £60,000). Although I do not start my job til september, I have a confirmation letter and the contract stating what my income would be. My dad is also prepared to act as guarantor if needed.
Do you tihnk I will be able to get a mortgage if I apply for one now. The reason for the rush is that a house has come onto the market within my budget in the area I want, and that does not happen often.
What should be first move be? Any help.advice much appreciated.
You could try Scottish Widows and Standard Life Banks.
They both offer professional mortgages.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0
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