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Help for first time buyer!
Samfletchxo
Posts: 1 Newbie
Hi,
As the title says I’m a first time buyer. Went to see a mortgage adviser and found out my boyfriend and I could borrow 145,000. Had a bit of money saved that my mum has kept away and topped up over the years and recently sold an old VW camper van, so said she would be happy to go ahead and put the deposit down.
Found a house we loved that was being fought over recently and sold, but the sale went through due to the buyers house not being sold so went back up on the market.
All in all mortgage adviser told us to make an offer and it was accepted!
Well, I haven’t done any of this before and here are my worries:
I’m on £16500 and boyfriend is on £17500. Together we have potential commission of £31000 a year.
Well in June my boyfriend became really ill with gastroenteritis and obviously with us living together I came down with as well! July we then found out we miscarried and took it very hard mentally so both were off work again.
Currently renting so first priority was any sick pay received went straight on rent and bills, but as we were then struggling nearing the middle of the month for food etc we both went into agreed overdrafts with the intention to pay it back off month by month when we returned to work. In total we are in £1800 debt with the arranged overdraft and with us going back to work around the start of this month we are yet to get the pay for being back at work. Just printed off bank statements for the mortgage application and it hit me that we are both showing minus currently, not only that but our wages are not as stated for June/July as we were only paid sick pay. (May pay Is more than standard pay due to commissions)
Really I’m just looking for any advice be it good or bad as I’ve never done any of this before!
I know the advisor said it you get rejected first time we can try elsewhere but I’m handing the documents in on Monday and I’m already whittling!
Anyone been in this situation and can let me know what the outcome was?
Thanks in advance - panicking first time buyer!!
As the title says I’m a first time buyer. Went to see a mortgage adviser and found out my boyfriend and I could borrow 145,000. Had a bit of money saved that my mum has kept away and topped up over the years and recently sold an old VW camper van, so said she would be happy to go ahead and put the deposit down.
Found a house we loved that was being fought over recently and sold, but the sale went through due to the buyers house not being sold so went back up on the market.
All in all mortgage adviser told us to make an offer and it was accepted!
Well, I haven’t done any of this before and here are my worries:
I’m on £16500 and boyfriend is on £17500. Together we have potential commission of £31000 a year.
Well in June my boyfriend became really ill with gastroenteritis and obviously with us living together I came down with as well! July we then found out we miscarried and took it very hard mentally so both were off work again.
Currently renting so first priority was any sick pay received went straight on rent and bills, but as we were then struggling nearing the middle of the month for food etc we both went into agreed overdrafts with the intention to pay it back off month by month when we returned to work. In total we are in £1800 debt with the arranged overdraft and with us going back to work around the start of this month we are yet to get the pay for being back at work. Just printed off bank statements for the mortgage application and it hit me that we are both showing minus currently, not only that but our wages are not as stated for June/July as we were only paid sick pay. (May pay Is more than standard pay due to commissions)
Really I’m just looking for any advice be it good or bad as I’ve never done any of this before!
I know the advisor said it you get rejected first time we can try elsewhere but I’m handing the documents in on Monday and I’m already whittling!
Anyone been in this situation and can let me know what the outcome was?
Thanks in advance - panicking first time buyer!!
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