First time buyer

Cameron1590_2

Hi all,

Wondering if you can help?

My partner and I are looking to buy a house in the next year or two, currently she is at university however I am in full time employment earning 22k pa.

We hope To have around 15-20k deposit when we come to apply for a mortgage we are looking to buy a house at a maximum price of 100k so looking for a 80k mortgage.

I have had a few credit cards over the past three years all paid on time and have no debt or missed payments/defaults/CCJs

I have been in full time employment with my current employer for the past 12months. Will we find it hard to get a main stream mortgage?

Thanks

amnblog

If the headline reads

"consumer uses credit card and pays balance back on time and in full"

it is more likely to strengthen your case.

Cameron1590_2

Hi Amnblog,

Thanks for the reply!

Yes that's correct I merely use two cash back credit cards which are paid on time and in full every month. Would you think we need to go with a broker/adviser or should we be able to apply mainstream ourselfs?

Thanks

dimbo61

If you are happy to search the market yourself and read all the small print !
Some lender want you to earn over £50,000 HSBC premier account + mortgages.
Some want you to earn over £25,000.
Who are you saving your deposit with ?
When does your girlfriend finish uni and get a job ?
4X income with 85% or even 80% LTV should be OK to find a lender

amnblog

Cameron1590 wrote: »

Hi Amnblog,

Thanks for the reply!

Yes that's correct I merely use two cash back credit cards which are paid on time and in full every month. Would you think we need to go with a broker/adviser or should we be able to apply mainstream ourselfs?

Thanks

I am not the person to ask as my views are well known.


I do not hear of many applicants applying direct themselves after a broker could not place their lending.