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First time buyer options?

Options
2

Comments

  • amnblog
    amnblog Posts: 12,729 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Despite reports to the contrary - lenders are not looking for financial hermits.

    Sensible management of your income and outgoings within the demands of your family profile is sufficient.

    If we start cancelling Sky we are all going to hell in a handcart.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • madchester
    madchester Posts: 14 Forumite
    Hi folks thanks again for your replies, so when applying for a mortgage am i right in saying i will need the following documents.

    3 months payslips
    P60
    3 months Bank statements
    Credit file report

    is there anything else they might ask for, credit card statements maybe? Or if its a tight decision possibly a longer history?
  • stator
    stator Posts: 7,441 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Post office only want the payslips and P60 :)

    You don't need a copy of your credit report, the banks will get that themselves and it will all be processed automatically by their computer.
    Changing the world, one sarcastic comment at a time.
  • madchester
    madchester Posts: 14 Forumite
    Hi folks just a quick update, I have paid off most of my credit cards which over time has sent my credit score much higher heading close to the top of good around 950. This has given me a bit more confidence but lowered my deposit a little.
    A few questions, can anyone recommend a decent broker in the south Manchester area?
    And do most lenders only require 3 months payslips or might I be asked for more?
    Hopefully if its only 3 I will be ready to go by the end of next month as i have been keeping my spending/outgoings much cleaner recently.

    Thanks for any help.
  • amnblog
    amnblog Posts: 12,729 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    stator wrote: »
    Post office only want the payslips and P60 :)
    .


    Best for stamps
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • stator
    stator Posts: 7,441 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    For the record Post Office now want one bank statement along with the Payslips and P60
    Changing the world, one sarcastic comment at a time.
  • amnblog
    amnblog Posts: 12,729 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    stator wrote: »
    For the record Post Office now want one bank statement along with the Payslips and P60


    Still best for stamps
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • kingstreet
    kingstreet Posts: 39,258 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Why anyone would give their business to Bank of Ireland, disguised as something else or not, I'll never understand.

    On my list of questionable outfits along with Skipton, West Brom and the Pru (the latter 2003 - You Know What You Did!!!).
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Dird
    Dird Posts: 2,703 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    How much credit card debt do you have? £40k deposit + no card debt would be OK
    Mortgage (Nov 15): £79,950 | Mortgage (May 19): £71,754 | Mortgage (Sep 22): £0
    Cashback sites: £900 | £30k in 2016: £30,300 (101%)
  • madchester
    madchester Posts: 14 Forumite
    Hi it looks like I will get the debt down to around £1000 and have around £35000 deposit.
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