Mortgage after RTW travel - advice?!

mirain.rhys

My boyfriend and I are due to take a career break and travel around the world for 7 months from March 2015.

Upon return, we hope to buy a house together, but want advice on how to properly prepare to be in the best position for mortgage applications. So - I have a few questions, but I'm struggling to find answers online! Hoping someone can help!

Some context on where we are now:
Both been in full time employment for over 2 years.
Both have student loans.
Both have enough savings to go travelling, and aiming to also have enough of a deposit for a house before we leave.
Both have credit cards.
Both over 25 years old.

1. Will the fact that we've been travelling affect a mortgage application?
2. What sort of financial preparations / precautions do we need to take before leaving?
3. Will our travelling finances be scrutinized as part of our application?
4. Will we have to wait a while after returning to have e.g. 3 months worth of payslips etc. (effectively, does travelling cancel out everything before hand?!)

Any information will be useful to us, as we have 6 months before we leave - so we have time to continue saving, and to put some precautions in place if needed etc.

Thanks in advance :-)

Thrugelmir

You'll need secure employment as a basic requirement to obtain a mortgage.

amnblog

1. yes it will
2. make sure everything will be paid while away - particularly phone bills - keep a uk address if possible
3. Possibly
4. Is your employment staying open or are you resigning

This is all of course, assuming you don't kill each other on the way round!

mirain.rhys

Thanks for your help! Very useful! :-)

Edi81

The uk address and staying on the electoral register and really important.