are we likely to get a mortgage

leveller2911

pukkamum wrote: »

my husband has worked very hard to be finally receiving that high wage, we have had years and years of scrimping, we are finally in a position to buy and we did look at leaving our council house and buying privately but the prices and deposit required remain out of reach.

The vast majority of people work "very hard" ,spend years scrimping and trying to save so why should you be singled out for a huge financial handout via a big discount off the purchase price?.

If you were to buy it for the full market value and the money was spent to build more Social Housing at least the rest of the community would gain but as it stands only you gain.

I don't blame you personally but I do blame the current and past Governments for allowing this to happen.

I can afford my children, I have 3 and all our calculations are based on affordability should the benefits stop.

No you can't afford 3 children because you rely on £6,600 a year in benefits.

Incidentally if the full market value of the house is £70k and your husband earns £29k a year (forget about the £6,600 benefits) how is it you can't afford to buy on the open market?. Something doesn't add up here,If affordability is calculated without benefits then you can afford to buy on the openmarket.

Try living down here ..............Average income is £28k and average house prices are around £249k..........

Dlg77

leveller2911 wrote: »

No you can't afford 3 children because you rely on £6,600 a year in benefits.

Incidentally if the full market value of the house is £70k and your husband earns £29k a year (forget about the £6,600 benefits) how is it you can't afford to buy on the open market?. Something doesn't add up here,If affordability is calculated without benefits then you can afford to buy on the openmarket.

Try living down here ..............Average income is £28k and average house prices are around £249k..........

I cannot believe you are slating this couple over benefits that they have every right to. The op asked a question about mortgages not your opinion on her choice of lifestyle!:mad:

james.hope87

Hi, in response to your original comment, I advise giving London and Country Mortgages a ring.

They are an independent commission based broker. So they don't charge you a fee.

0800 953 0304

We are currently in the process of buying and They are very helpful. They answer phones quickly and they offer good advice.

After speaking on the phone for about 40 mins and giving them details about our financial situation, they sent us a Decision In Principle telling us how much we could realistically borrow.

There is no obligation so if after speaking to them, you decide not to go ahead then that is fine.

Just explain everything to them and see what they can offer. Good luck. Getting onto the market can be very difficult!

Zoology_Dragon

I agree that L&C are excellent.

ACG

james.hope87 wrote: »

Hi, in response to your original comment, I advise giving London and Country Mortgages a ring.

They are an independent commission based broker. So they don't charge you a fee.

0800 953 0304

Hit and miss with L&C - have a look on these forums. It appears to depend on who picks up your case.

That aside, they are not independent. Independent means they charge a fee and rebate commission - that is not the case with L&C.

getzls

leveller2911 wrote: »

No can't afford 3 children because you rely on £6,600 a year in benefits.

Try living down here ..............Average income is £28k and average house prices are around £249k..........

Try living up there then if you don't like it.;)

And people had kids before there were benefits.
Sure the OP would have still had them without it.

Alias_Omega

OP,

How did you get on?

The only people that moan, are the jealous people.

pukkamum

Thanks alias, well, so far so good, we got a provisional acceptance, so the papers have gone in to santander, just wait and see now!
We've applied for 55k, 41k for the house the rest for improvements, so just keeping our fingers crossed now!

Rafal35

Hi pukkamum,good luck ,I also would like to buy council house in near future,got simmilar situation to yours,earn with my wife around 45k a year before tax deductions,still got about 3k in debt,hopefully to be debt free end of this year.
Can you tell or someone who bought council house how they value the house?On their website calculator shows average price £140k so after discount around £95k to pay.Would be brilliant but buying privately houses like this cost about 180k,so confused.Another question is if they value the home and I cant get mortgage can i ask them to do valuation for example year or two later?any help would be appreciate

pukkamum

Hi Rafal, i will help if i can.
The valuation is done by an independant valuator, ours was a local estate agents.
They check the boundaries and have a general look around.
The next person to come measures all the rooms etc.
Our valuation on a 3bed terrace with garden and drive was 70K.
Houses of a similar size etc in private areas are about 120K, however, our estates isn't 'desirable' even though my street is lovely.
If you don't get the mortgage you can apply again, there is probably a waiting period, not sure, but the obviously this is because the original valuation would be out of date.

Your financila situation sounds similar to ours and we have about the same amount debt and income and we have an agreement in Principle for 55K, 41K for the house the rest for improvements.
When our figures were inputted it came up with them willing to lend us potentially 180K absolutely ludircous if you ask me.