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Is this realistic?

Options
Wanting to upsize.

£50k deposit made up of £20k equity and £30k savings.

Joint Application

A) £10k employed part time
B) Self employed, LTD company accounts £28k directors remuneration last year, £15k previous year

Both credit history is spotless, plenty of 10 year+ settled accounts, no late payments/CCJs etc. 2 dependants but no childcare costs, also NO DEBT apart from applicant A) £8k student loan, only paid back when earning £21k +.

Looking at properties around tge £190k mark.

Just looking for a bit of reassurance really before i contact a broker, thanks in advance.
:beer:

Comments

  • garfy1
    garfy1 Posts: 39 Forumite
    Anyone any thoughts?
    :beer:
  • King_Slayer
    King_Slayer Posts: 262 Forumite
    Seventh Anniversary Combo Breaker
    You can see a broker without committing (I believe). I'm sure they'll offer you sufficient guidance before submitting an application etc. The broker will be your best option as they will be able to relate to your personal circumstances and will know which lender will most likely accept you. :)
  • stator
    stator Posts: 7,441 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Best to see a good broker. With your current income and the kids it looks like a stretch.
    Changing the world, one sarcastic comment at a time.
  • ACG
    ACG Posts: 24,542 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    It should be achievable but I think it could be a little on the tight side.
    You should either play with calculators or speak to a broker.
    I am a Mortgage Adviser
    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.
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