Obtaining a mortgage as a single parent

bark29

So by completing the ' what can I afford' calculators it looks as if I could obtain a mortgage for about 95000, which would allow me to purchase a property however I wanted to know what my chances were in reality.
I am a teacher earning £25000
I have £14000 available for deposit and other expenses.
No debt
Good credit history
No childcare costs
Looking to purchase a property for £105000
I currently privately rent with ex-partner, but I am looking to buy my own home.
What are my chances being a single parent with 2 children of getting a mortgage. I know it is within budget for me but what will lenders think?

Popsicle

Hello! I am also a single parent and have recently finished getting a mortgage on my own (which I am then going to port over when I move as I am currently on the market).

They had no issues with me being a single parent. If you have any court agreed child support they will also take that into account, although I just used my own salary.

I had another different bank that gave me an agreement in principle too so as long as your credit is good, you shouldn't have any difficulty. Try the mortgage calculators on the bank websites as these gave me a good idea on what I could take on.

Good luck!

bark29

Thanks, the online calculators showed that they would lend to me as a single applicant with children but wondered whether there would be any problems in real life. I will not be receiving any child support until I move out as the children's dad pays the rent and bills in lieu of child support at the moment. Therefore it will only be my salary that would be counted on mortgage application.

Popsicle

bark29 wrote: »

Thanks, the online calculators showed that they would lend to me as a single applicant with children but wondered whether there would be any problems in real life. I will not be receiving any child support until I move out as the children's dad pays the rent and bills in lieu of child support at the moment. Therefore it will only be my salary that would be counted on mortgage application.

They asked me questions about my dependants and outgoings, but still offered to lend as high as the calculators so they were pretty accurate for me. I felt exactly the same and worried if I'd be able to get a mortgage on my own, but it was pretty straight forward. :-)