Pay off debt or save?

everything

Thanks for all your replies. Have a small update...

Been a busy few days. We've been to see a broker, who has looked over our credit files, bank statements, debts, gifted deposits etc and has recommended we go with Halifax. He has got us the DIP, we have paid the builder reservation fee (£100) on the plot we want, applied for the HTB scheme (ATP arriving Friday, apparently) and the broker says he will go ahead and start the full application with Halifax, and that they have asked for just one payslip for hubby and I, plus the £430 valuation fee - that can't be all they want can it? He reckons it's normal as so much of their system is automated now...

As for the debt, we have paid off £5k using part of the gifted £20k, so still have £15k to cover deposit, stamp duty, searches, valuation etc. Builders are paying the legal fees

Kirstyb1987

Do you feel better for paying that off?!! Well done, glad you did that as now you are in a much better situation.

I was only asked for 1 pay slip and 1 bank statement.... Sounds like its all go for you guys!

Keep us updated and the best of luck.

breakingbad

Congrats! ��

Are Halifax generally a bit more lenient than Nationwide when it comes to things like debt, gifted deposits etc?

everything

Update:
The £430 valuation fee has been taken, which I suppose could be looked upon as a good sign?

everything

After initially only asking for one payslip, Halifax have now asked our broker for our P60's - is this normal? Valuation is happening Tuesday.

Kirstyb1987

Yes, completely normal. Don't panic

everything

Thanks Kirsty - so nervous! (Don't even know why!!!)

Kirstyb1987

everything wrote: »

Thanks Kirsty - so nervous! (Don't even know why!!!)

Because its huge step in your lives....Normal to be nervous.


I am waiting to exchange and I am on pins.


Keep us up to date with your progress and good luck, however I am sure you will be fine. :j

everything

Mortgage offer received today!! Absolutely over the moon!!!

Got the ATP, got the mortgage offer, now the solicitors need to do their thing! As it's a new build and we're using the builder's recommended solicitor it shouldn't take long. Hoping to complete within weeks!