Is there a lender for my circumstances?

malli79

Hi
Myself and my husband are looking to move house but not sure if we will be able to find a lender under these circumstances
Income 1 £39k fixed term contract until 31/10/19
Income 2 £16k permanent employee
House value £315k
Deposit £63k
Mortgage required £252k
1 dependant with childcare costs of £280 per month
No other commitments or debts, good credit history
Does this fit with any lenders?
Thanks

foxy-stoat

Numbers look tight. Consult a broker.

malli79

Thanks for replying. I was intending to find a broker just wanted an idea if it was possible or not. I could increase the deposit if required it was more the fixed term contract that was concerning me and whether that would be an issue.

kingstreet

You need a 26 year term with the one high street lender where I've just entered your data into its calculator.

You should try the same, then establish if the lender will accept the fixed term contract.

malli79

Thank you. Is that kind of information available to the public or would only a broker know? Sorry if that’s a stupid question just would like to do as much research as possible before we make an offer.

kingstreet

You need to study lender criteria and call them to check if you can't find what you want online.

Establish affordability first, as there's no point checking criteria if they won't lend what you need.

A broker will undoubtedly make this easier as they do these things all the time.

malli79

Thanks, much appreciated