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Dont earn enough...do i have any more options
Nutella18
Posts: 29 Forumite
Looking for a bit of advice...
My partner and i went to mortgage brokers today as we are interested in a property.
We have approx £10k deposit and the house is OO 100k.
As my partner has a default(over 5 years for £500) the only mortgage who would touch us combined is Aldermore at an eye watering rate of 5.10% or there abouts.
i on the other hand have an excellent credit history and would pretty much have access to any mortgage however my current salary will only fetch in the region of £87k
i am getting a promotion however there has been a delay in this and a letter is out of the question from employer until it is all finalised(this will be too late) this would bring me up to 100k borrowing.
i know the house will go for more than this as it is sought after location.
my question is, is there anything else i can do possibly with a family member or something else to increase my borrowing power?:j
My partner and i went to mortgage brokers today as we are interested in a property.
We have approx £10k deposit and the house is OO 100k.
As my partner has a default(over 5 years for £500) the only mortgage who would touch us combined is Aldermore at an eye watering rate of 5.10% or there abouts.
i on the other hand have an excellent credit history and would pretty much have access to any mortgage however my current salary will only fetch in the region of £87k
i am getting a promotion however there has been a delay in this and a letter is out of the question from employer until it is all finalised(this will be too late) this would bring me up to 100k borrowing.
i know the house will go for more than this as it is sought after location.
my question is, is there anything else i can do possibly with a family member or something else to increase my borrowing power?:j
0
Comments
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Only the obvious which is to continue to save to increase the size of your deposit.0
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Has the default been satisfied? If so when?
What was the default for?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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