First Time Mortgage - The usual questions..

dougie1142

Hi all,

Looking for some advice from you lovely lot again!

Wondering what others experiences are with regards to first time mortgages and how debts effect them.

I earn £34k p/a, my partner earns £25k p/a however she works through an agency - we were told she wouldn't be allowed to go on a mortgage but unsure if this is true?

I have £5k on a C/C and wondering how this will effect our application? I have good credit, having never missed payments on any previous loans or credit cards.

Looking to buy a house valued at £160k and unsure if this will be possible on these circumstances.

We can put in up to £20-25k deposit in.

Thanks
Douglas

middleclassbutpoor

Based on your salary - you should be able to afford that house but I would suggest that you pay the £5k cc debt off from your savings though. There is nothing stopping both of you being named on the house/mortgage etc.

See a broker too for the right deal.

Is the deposit from your own savings or joint savings?

jaelato1

Even with your CC outstanding balance, you should both still be fine but if you can pay it off then even better

dougie1142

Great response, thank you!

It is joint savings, my partner actually has a little more saved than me.