Help please? First Time Buyer - £33k mortgage

jackridge

I am a first time buyer looking to purchase a ground floor flat. The selling price is £37000. I can afford a maximum deposit of £5000. My credit rating is good, I have no outstanding debts. I am self employed, my last 3 years profits have been between £10,000 and £11,500 each year. It will be a single application.

I tried my own bank who declined the application online, saying they don't lend less than £40k. I have applied to Virgin and my application has been deferred for an underwriter to check?

Can anyone give me some realistic advice? Thanks

kingstreet

You will now have to wait for the verdict from the second lender you have submitted a speculative application to.

There's no way to tell from the scan information in your post if this will proceed or not, so sit tight and hope for the best.