first time here and no idea about anything!

Louisa81_2

Hi everyone.

I'm not even sure ive posted this in the right place.

I'll give a quick overview on my situ.

Basically, i've relocated from the north down south this year and living in rented accom paying £500 bills inc. Now that i'm settled in the area and job I really want to sort out my finances. Scary!!

I have borrowings which amount to £15,000. -i'm not a big spender! but after uni i took 3 years out travelling (loved every min of it-but am i really going to pay for it now so to speak)

I think with everything i pay out -rent, loan X 2, My outgoings are £900 (before things like car, mobile etc), which i can afford although i'm watching the penny's at the end of the month. I clear apporx £1400 per month

So thats basic of me.

Now i'm thinking would it be possible for me to get myself on the property ladder as I just feel that the £500 is wasted money. as ive already spent £4,000 this year on rent!
I dont have any deposit for a house, and dont have any family to help me out really. I guess i just dont know if these things are done but can you get a mortgage and include debt -even if it £10,000 of it??


thank you for any advice X

herbiesjp

Hi Louisa

In theory you can do what you have asked.

However, in reality, you need to be careful consolidating unsecured loans and debts.


£15,000 is a lot to have outstanding, to then want to try and purchase a property borrowing 100% (if not more)

What are the property prices that you are looking at?

What is your gross basic salary?

Marshy_2-2_2

Hi!

Check out your exact credit status first. Make sure things are as you expect so that you get no nasty surprises when you start to apply.

You can also take it along to your broker.adviser to help him/her at the application stage.

You can get a credit report free on a 30 day trial at www.creditcheck4free.co.uk

Good luck