Likelyhood of being accepted for a mortgage?

MrsKrepsly

Scenario - single 35 year old woman with two teenage kids. Earnings of £22k pa and no debts other than a student loan of around £6k (repayments of £40 a month). Property valued at £95k. £5k deposit. What do you reckon the chances are of being leant £90k? Extra income also have income from child maintenance, unsociable hours and child tax credits. Online calculators say lenders would be willing to lend up to £95k but what's the reality of it?

Funny_old_game

Redo the online calculators but this time any income not basic salary halve the amount if not already done so. CTC ie £5k pa, input £2500.

That'll be the realistic amount approximately.

GMS

The calculators will be set up so as to take whatever portion of the income required.

Put every penny of income into the relevant sections.

Alternatively speak to a broker.

DebtFree14_2

Don't forget to include child maintenance payments, tax credits etc. It all counts!

Funny_old_game

My bad. At least it allows the lady knowledge not all extra income gets 100% taken into account.