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1st time buyer - by to let and credit check advice needed
pashi2004
Posts: 16 Forumite
Hi i'd like some advice regarding 1st time buying and mortgages , i really dont know where to start..
im in a reidential post at the moment with free rent and no utility bills so basically my husband and i have very small out goings each month ( the car ins , mobile phone and a couple of other small payments ) were hoping to get onto the property ladder but havent decided what kind of poperty we want , maybe a holiday let or residential let or even for me to become non residential and move in our self. i know if we were to move in we'd be loosing around £600 per month and at the moment that seems a bad idea .
my husband had to give up work 4 years ago due to been attacked , we racked up a bit of debt trying to make ends meet, anyway he's been paid out by criminal injuries and we have paid all our debts off and have around £10k saved. the problem is i have checked with experian and i'm still a high risk borrower. my hubby is learning a new trade as a tiler and is only working 3 days a week and hasnt 12 months income to show yet,
i have got some advice on my mortgage limit and it came back as £80k ,(im on around 16k a year + rent etc) i was hoping to buy a property not a garden shed !! lol
should my rent free accommadation and no utility bills be taken into account as an income ?
can anyone advice of the type of mortage you need to purchase a mobile or static home ? as a cheaper option ?
i do know you need to put down 15% as a buy to let mortgage but we dont really have that at the moment . now we're recently debt free we can look at saving regular and hopefully increase our 10k savings
any advice would be helpful thanks
im in a reidential post at the moment with free rent and no utility bills so basically my husband and i have very small out goings each month ( the car ins , mobile phone and a couple of other small payments ) were hoping to get onto the property ladder but havent decided what kind of poperty we want , maybe a holiday let or residential let or even for me to become non residential and move in our self. i know if we were to move in we'd be loosing around £600 per month and at the moment that seems a bad idea .
my husband had to give up work 4 years ago due to been attacked , we racked up a bit of debt trying to make ends meet, anyway he's been paid out by criminal injuries and we have paid all our debts off and have around £10k saved. the problem is i have checked with experian and i'm still a high risk borrower. my hubby is learning a new trade as a tiler and is only working 3 days a week and hasnt 12 months income to show yet,
i have got some advice on my mortgage limit and it came back as £80k ,(im on around 16k a year + rent etc) i was hoping to buy a property not a garden shed !! lol
should my rent free accommadation and no utility bills be taken into account as an income ?
can anyone advice of the type of mortage you need to purchase a mobile or static home ? as a cheaper option ?
i do know you need to put down 15% as a buy to let mortgage but we dont really have that at the moment . now we're recently debt free we can look at saving regular and hopefully increase our 10k savings
any advice would be helpful thanks
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