FTB question

QuickQuestionFTB

Hi all,

First post here as you can all see.

Me and the other half are looking at starting the buying process in March this year.

Just thought I would see how comfortable me and the other half will be with the finances/getting a mortgage and paying all the fees etc based on the following.


House Price estimated: £120-130k
Joint savings at March for the House purchase: £26k

We are looking at putting down a 10% deposit for access to better rates.

Income: 21k & 17k (no bonuses etc included in these as we aren't sure they will qualify, however we will check on these later in the process and they can never be guaranteed!)

In terms of credit, neither of us have any loans, defaults etc, they are "clean" credit records.

In terms of our credit files we both have 1 credit card each, credit limits about £1.5k each, both are paid in full each month (I normally use mine for my work fuel so I receive the money before it leaves my account, although heard we will be best to clear them both the month before any applications go in so they show as £0?).

Only issue for me is I am just in the process of putting myself on the Electoral roll, although this should be sorted by March if done now?

Not sure what other information may be needed (or whether to post here instead of the Mortgage part of the forum).

Thanks for your help in advance all.

Simon11

Seems fine for me, however why only put down 10%? Try to aim for 80%-70% to get a far better mortgage rate.