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Affordability check concerns
Drew111
Posts: 12 Forumite
Hi there,
Me and my partner are in the market to buy our first home. We've found a flat that we like and have got a meeting on Monday with our mortgage adviser where he'll do an affordability check on us.
I'm becoming increasingly concerned by this because as a minimum wage bartender with a gambling problem my spending looks very erratic over the last few months.
Basically I'm living week to week on my wage, paying rent and bills as they come but with any spare cash I have I tend to put it towards gambling.
As I'm completely new to the whole mortgaging process I'm wondering if anyone can tell me what to expect on Monday morning at the meeting. I've heard the affordability checks can be quite brutal (which I understand why) and I'm becoming increasingly worried that my gambling past-time will cause big problems.
Thanks for any help or advice
Andy
Me and my partner are in the market to buy our first home. We've found a flat that we like and have got a meeting on Monday with our mortgage adviser where he'll do an affordability check on us.
I'm becoming increasingly concerned by this because as a minimum wage bartender with a gambling problem my spending looks very erratic over the last few months.
Basically I'm living week to week on my wage, paying rent and bills as they come but with any spare cash I have I tend to put it towards gambling.
As I'm completely new to the whole mortgaging process I'm wondering if anyone can tell me what to expect on Monday morning at the meeting. I've heard the affordability checks can be quite brutal (which I understand why) and I'm becoming increasingly worried that my gambling past-time will cause big problems.
Thanks for any help or advice
Andy
0
Comments
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If you are concerned about bank statements you may wish to consider a lender who doesn't ask for them.
You really need to question if you are ready to take on a mortgage. It's a massive long term commitment so if your gambling is an issue you may need to take action.
Is your partner aware of it? If not it could become apparent during the mortgage process.I am a Mortgage AdviserYou 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.0 -
Perhaps it would be fairer to your partner to get your gambling under control before you commit the both of you to a mortgage?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
Whatever you do DO NOT use an Estate Agent's services, either surveyors or mortgage advisor."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0
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