Do we have a chance?

Abigail1990

Hi all

Have just come for a bit of advice really.
I wish to apply for a mortgage with my husband at the end of next month. I know i will need to see a broker and no-one can give me a definitive answer on here but wanted to know if anyone can give an indication of whether they think we have a decent chance.

I am employed on a salary of 24k at a civil service department. I have worked there since October 2016. My husband works in a restaurant on a salary of 15k and has worked there since June 2016. He is on a spouse visa and will not be eligible for indefinite leave to remain until August 2020. He is therefore not on the electoral roll but has got a phone contract in his name and has a credit card that he uses minimally and then pays in full each month to build his credit score. No late payments, only outgoings are car insurance for £110 monthly and phone bill £20.00 monthly.

I am on the electoral roll and have lived at the same address all.my life. I have a loan for around £6.5 k that i pay £145 off monthly. I was regularly dipping into my overdraft (£1.5k) but have cleared it this month and it will remain clear next month so if we are asked to show 3 bank statements 1 will show me dipping into overdraft, 2 will show account in credit. Credit card is clear since April 2018 (has credit limit of 1.5k) but is still open. Phone bill is £20 monthly. No other outgoings. I took out several pay day loans in 2017 but all paid in full and nothing taken out in last 2 years. I have 1 late payment in 2014 (showing as 1 on credit report) on an old mail.order account, now closed and cleared. 3 late payments in 2017 (all 1s on non consecutive months) on a now cleared and closed bank loan. 1 late payment in 2013 on my credit card (showing as a 1) and 1 late payment in 2014 on credit card (another 1). No ccjs or anything.

Currently we are both living with my parents and have no outgoings. We will have saved £18000 for deposit by when we apply and would be looking at houses around £150,000 or potentially help to buy. We have 1 child and i am pregnant with another but i only plan to take 6 months maternity leave which in civil service is full pay.

I know its a lot to ask to ask u to wade through all that information, but if anyone knows whether we have a shot at getting accepted for a mortgage. Just feels like we have a lot stacked against us. I imagine we would definitely need to consult a broker but if there are any brokers on here who could advise if they had clients like us would they have anyone to place us with it would be really useful.

Thank you

ACG

It should be possible at normal rates, but options will be slim.

Abigail1990

I thought they would be but the fact you think should be possible at normal rates is really encouraging. If we can't get placed on the high street are there other options? Will we need a specialised broker or is it something most brokers are placed to sort? I think its the spouse visa element which really limits us. Thank you so much for replying.

ACG

It is the visa that really hinders your options.

I only know of 2-3 lenders off the top of my head that would consider it. I recall getting an email from another lender a couple of months ago so I am sure there are a couple more.

Im not sure you need a specialist broker (or if there is one who specialises in visas) just an experienced one.

Abigail1990

I thought it would be. I did contemplate trying to get a mortgage alone but my husband has contributed to the deposit and not sure my salary would be enough 2 get a mortgage on alone.

ACG

Sounds like you have done some research. Your thoughts sound pretty much spot on.