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Just starting out......
carlyfluck
Posts: 137 Forumite
Hi everyone 👋🏻
So me and my husband are just about to start saving for a house.....we finish our dmp 1st June and will be £500 a month better off!
We both have 3 defaults each which are now around 4 years old.
What would you say be the best way to save? Help to buy isa? The new lifetime isa? It's all so confusing?
Would we even be in for a chance on a mortgage given our history? We have no late payments etc since starting the dmp.
Any advice would be great!
Thanks
So me and my husband are just about to start saving for a house.....we finish our dmp 1st June and will be £500 a month better off!
We both have 3 defaults each which are now around 4 years old.
What would you say be the best way to save? Help to buy isa? The new lifetime isa? It's all so confusing?
Would we even be in for a chance on a mortgage given our history? We have no late payments etc since starting the dmp.
Any advice would be great!
Thanks
First time buyer- Shared ownership- 13/7 DIP Leeds- soft search- 20/7 told we got house-21/7 instructed solicitor- 27/7 sales memo and full application- 30/7 hard search- 3/8 mortgage declaration sent- 6/8 told valuation complete
13/08 questions from underwriters
17/08 letter to say initial assessment completed.
20/8 Broker says it will be another week until more communication from Leeds.
27/08 Mortgage approved
13/08 questions from underwriters
17/08 letter to say initial assessment completed.
20/8 Broker says it will be another week until more communication from Leeds.
27/08 Mortgage approved
0
Comments
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You should be fine. I would say as a minimum you would need 10% deposit but with 15% you would have many more options.
There is a possibility of high street rates but it may end up being a little above high street depending on the detail. The adverse appears to be quite historic so that will be in your favour.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
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