Can I get a mortgage?

brilliantsunshine

Hi,

Am desperately wanting to buy my own property and wondered if you can tell me if this is viable.

I'm 42, have 3 children. Annual income £31,000.
I want to apply for the mortgage solely in my name as my partner is 53 and also has a poor credit history. He has had a dmp.

I have an outstanding balance of £1100 on cc, but intend to pay this off in full, monthly student loan repayment of £102 and another loan of £150 which again I would like to repay off in full (1800 o/s).

I have seen a property for £168995 and would like to use the govt 20% help to buy scheme. I have 5% deposit but could probably afford 10% if necessary.

I had a house repossessed in 1995 due to relationship breakdown and poor legal advice

Is this doable?

I have rang L & C earlier this year regarding a shared ownership property and they said no to affordability due to my dependants.

Thanks x

Jon_B_2

Even if you had perfect credit history, no debt or kids, you are almost at the limit of affordability at the 4.5 x salary rule.