HSBC Mortgage dilemma

kyle1412

So im in a bit of a sticky situation. 3 years ago i was working overseas and my credit was not the best.
I found a house i liked and my in laws kindly offered to buy it until i could get the mortgage.
Im now back working in the uk and in a position to be able to apply and have had a decision in principal accepted by HSBC.
My credit is fair according to check my file and i only have an arrangement to pay left on there which will be removed in july.
I earn 78k a year but have 12k on a credit card with hsbc and quite high out goings.
My in laws now want me to take over the mortgage but i am worried my high credit card and average credit will stop me getting the mortgage.
What do you think my chances would be of getting the mortgage.

Thanks in advance.

BoGoF

Give us a clue....how much is property worth and how much mortgage is outstanding?

amnblog

If you are expecting the difference between the value and the price your in laws will sell to to act as your deposit you are looking at the wrong lender.

HSBC will expect you to put your own cash in. If your in-laws are living in the property, and expect to continue to do so, matters are even more complex.

If you are smart, you will forget HSBC and consult a good mortgage broker.

kyle1412

The out standing mortgage is 295k and the house is worth 450k.

They do not want to stay living there.
When they bought the house my name was added to the deeds and Hsbc have said I do not need a deposit as my name is already on the deeds. I think they call it a transfer of title but I will still need to do a normal mortgage application.