Looking for mortgage. Midlands/Northampton

Aze007

Hi to everyone, I will go straight ahead with all details.
Looking for some advice that where should I go and how to start.

I live with my partner. We've been in the UK from the June 2012.
We've got over £10.000 on saving account.

I am working on commissions. £14.200 basic hourly pay + £5000 upwards from commissions. I've been with this company from June/July 2014. My payslips are (before TAX) between £1500-£2300

My partner has zero hours contract. She has been with her employer for over 12 months now. She does a bit of overtimes. Such as 48h per week on the average. She will finish 2014-2015 on £16-17k pa.

We're looking for £80.000 property.
£70k mortgage £10k deposit and £2k ish for all sort of fees.
I've counted it that for 15 years I will have to pay £500 ish per month. But from my own calc it looks like I be able to pay it off in 10 years ish. It is £700 a month for 10 years.

Now I am paying £500 for rent and we saved over £10.000 from in 16months. While paying £500 rent.

Please tell me where should I go with it? Broker? Bank? How about my commissions and my lady contract.

Please give me some advice.

ps. I am also looking for mortgage adviser in Northamptonshire area

kingstreet

All that detail and none of it about the substantive reason for your thread.

Foreign? EU? EEA? Neither?

Visa status? How long remaining?

Aze007

I am Polish my friend. EU
Sorry

amnblog

EU is not the problem Aze.


The zero hour contract is.


You should see a broker about your mortgage.


Where are you buying?

Aze007

I am looking to buy something in the midlands - Northampton.
I've got contracted hours for amount of £14.200 but my lady doesn't.
She has proven records for last 12months. All payslips for total 16k ish atm.

How much it would cost to go to the broken and have confirmation about how much I can borrow? Because I can't really look for flats until i know for 100% how much I can get.

kingstreet

I agree with amn.

Even as an EU citizen, you'll find a few lenders who won't lend until you've lived in the UK three years but you should have several possibles with a year or more...

The zero hours contract is the issue here and again, amn is right. A full factfind with an independent mortgage broker would be a good start in establishing what's possible and when.

Aze007

So you saying that the best is to wait with any move until June 2015. Then I will be here for 3 years. After 3 years been here I can start to look for some mortgages and it will be easier to get one.

amnblog

No Aze - the zero hours contract is the problem.


Arrange to talk this through with a local mortgage broker (where are you living)?

Aze007

I live in Northampton (midlands)
I'd go for mortgage on my own but problem is that banks wont count my commissions. 14k pa vs 20-22k pa is a difference.

We can also wait until 2016 and save 15-20k. But I really really want my own flat.

ps. I am not sure if we understand each other. I am on contracted minimum of 42h per week.
My lady has zero hours.

Aze007

Hello guys? Shall I just forget about the mortgage for next few months?

kingstreet

Please find a mortgage broker you feel you can work with and discuss your case with them.

None of us is going to tell you which broker or which lender you should choose. We can't.

If friends and relatives can't recommend someone, try https://www.unbiased.co.uk, switching off the sponsored ads only option, so you get a full list.