Mortgage - Will we be accepted?

Daniellexxx23

Just after some thoughts on if we have a chance of being accepted for a mortgage.

I have recently paid off a loan in full but still have 2 credit cards with around £7000 altogether and my partner has about £1000 on one of his own. No missed payments.

We earn around £40,000 between us and are looking at a mortgage of £115,000 and were 30yo.

Is even worth us trying, will be be rejected straight away?

ACG

I think you will be fine.

kingstreet

Why not put the details in different lender affordability calculators and establish what you can borrow?

Alternatively, ask an independent broker to establish your borrowing power.

Trial different levels of card debt to see what you will have to repay, on or before completion, to be able to borrow what you need.

Your question is really about "how much?" rather than "can we get?"

ekumi00

you'll be fine

dalehitchy

I have borrowed £85k on my own (20k wage) so I think you will be fine.

My partner was is earning about the same but because of his bad credit score we needed a bigger deposit (20%) so we just went with my on the mortgage at 10%..... weird i know.

You seem to be earning about the same amount as us, and both of us together could borrow £160k, if you have around 10k debts i imagine it to be around £150k in total.