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FTB asking for advice
andytuc
Posts: 4 Newbie
Hi guys I am a FTB trying to move into property ladder. Unsure if I could get a mortgage and hope to get some advice from you experts.
I am 28, single and still no children unfortunately. I am with a permanent contract of £~44,000 annual salary. I live with my parents who don't charge me rental and ask me to pay for part of utility bills, council tax and food cost. I usually use credit card (£2,000 limit) for most of the cost each month and pay the balance off in full.
I have now ~£50,000 savings and look for 75% LTV of ~£200,000 house as my first property. I have no defaults/late repay in my credit report, nor loans/debts. Normally I save ~£1500 - 2000 each month, but had some unusually high spending with the credit card in Jan (£1800) an Feb (£2,030) just for new year holiday and family presents. Both of the spending are shown on the credit report. I am thus a bit worried about the affordability test and wonder if I should wait for another couple of months before applying for the mortgage? Any suggestions would be very welcomed!
I am 28, single and still no children unfortunately. I am with a permanent contract of £~44,000 annual salary. I live with my parents who don't charge me rental and ask me to pay for part of utility bills, council tax and food cost. I usually use credit card (£2,000 limit) for most of the cost each month and pay the balance off in full.
I have now ~£50,000 savings and look for 75% LTV of ~£200,000 house as my first property. I have no defaults/late repay in my credit report, nor loans/debts. Normally I save ~£1500 - 2000 each month, but had some unusually high spending with the credit card in Jan (£1800) an Feb (£2,030) just for new year holiday and family presents. Both of the spending are shown on the credit report. I am thus a bit worried about the affordability test and wonder if I should wait for another couple of months before applying for the mortgage? Any suggestions would be very welcomed!
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Comments
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You're worrying about nothing.
Lenders aren't particularly interested in one-offs.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
kingstreet wrote: »You're worrying about nothing.
Lenders aren't particularly interested in one-offs.
Thank you kingstreet. So you think I shall go straight with a broker and no need to wait, as I am close to make an offer to a property recently...0 -
Just find an independent broker you are happy to use and discuss timing with them.
Save some time by obtaining a copy of your statutory credit file in advance of any contact.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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