Chances of a mortgage. Only have job offers, questionable credit?

Talula1993

We are a couple in our mid 20's, we have been renting for 4 years. We have been browsing the housing market where we are looking to move for about 18 months. And have only now seen a house we love so are desperate to make a move on it. However my partner thinks we are are lost cause right now and no one will accept us. However I feel there may be some mortgage providers who will. Here's our situation.

We have both gone from self employed to permanent in the same month, therefore both have job offers (I have started and one month in, but not yet received full payslip), he only has his offer but he does not have a probation period, he starts in couple of weeks.

My job is part time 3 days, paying £20,000, however has excellent over time rates. (Potential to double my salary). I also work on the nhs bank so do shifts with them a couple times a month. So I have potential to bump by salary up quite considerably.

Partners job is paying £43,000, he is also going to work an extra 2 Saturday's a week bringing in £400 per month.

But I'm not sure if anyone will consider the extra money we can bring in. So our basic will be joint income of £63,000

Another issue is my credit. I don't have any CCJs or defaults that i know off, but a couple of late payments here and there, nothing that I haven't caught up on within same month. I have occasionally dipped into my over draft but very minimally and not often. Last time I looked at my score it was fair. I am at my max credit limit of 2000 but never miss a monthly payment. I have also purchased something on credit 0% interest for value of 1000 which I pay 100 a month towards.

His credit score is perfect.

Another issue is how my affordability looks, and of each month I'm left with very little, but this is due to spending about £700/£800 on travel a month, with a permanent job and mortgage I'm obviously not going to be doing this anymore, but it's whether or not they'll see that? I make all bills and rent dispite paying that towards travel. He earned enough that he could spend this much and have quite a bit left over end of month.

The house we are looking at is £220,000, we have 10% deposit....We have actually been offered quite a considerable amount to help with a purchase from family but would rather do it on our own. We might consider if we don't get accepted for a full 200k mortgage we might ask for help with shortfall, but it's more a worry that we won't get accepted for anything.

So based on the fact we have;

Only job offers to provide
My affordability might look questionable and my credit score might not be good enough.

What do you think our chances are?

We have a meeting with a mortgage broker next week but worried we are wasting our time.

Thank you in advance :j

ACG

There is enough there to give it a go.
Its probably a little hit and miss depending on how your credit reports look with the late payments but I would not rule out getting a mortgage.

LRmortgage

Overtime, extra hours, etc won’t be taken into account until proven by several months pay slips.
However I agree with ACG.
See a decent Broker and with your basic salaries and the amount you want to borrow it could be doable. The devil will be in the detail of your credit files.

Talula1993

Thanks

I thought including extra earnings was a bit of a long shot.

I could run another credit check on myself but part of me doesn't see the point if there's not much i can change about it right now. May aswell let the broker make his judgement.

mrginge

He’s going to be knackered working an extra two Saturdays a week.

Talula1993

Haha, Oops *month

Talula1993

Got a mortgage in principle from Halifax for 280. Wooo. (Very surprised)

I know a mortgage in principle isn't set in stone but it's a positive step

FTBuyerGlasgow

Congratulations.

On your basic salary £220k should be possible at high street banks.