Realistic amount & Broker question

TF03

Hi all,

So the OH and I are looking to move into our next home. When I've thrown in our figures into online calculators (high street lenders, banks etc) then the amount we can borrow seems disappointingly low.
Would it be a better idea to go through a broker? Could they access more options for us? Nowadays is there anything to be said for using a local broker or with the ease of sending stuff electronically does location not matter a huge amount?

A bit of background -
I earn £28835 a year. My partner earns £15000.
My credit file is clean apart from a single default in Jan 2018 (Three, £40) which is fully paid (cancelled contract that I didn't realise had one month outstanding on it. My bad and annoying). I have 3 credit cards with a total of £3000 credit available and full balances paid off in full (only use them for small spending to build history). I have outstanding loan from Natwest of approx £15k). Finally I have an approved overdraft from Natwest of £2.5k which I don't go into.
My partner is completely clean on the credit report and has no debt.
We keep our outgoings as low as possible.

We own outright our current property which is valued at £180k. We are erring on the side of caution and saying that we have £150k deposit. We are looking at property between £300-400k (depending on the condition, etc).
Realistically would we get a mortgage for £150-250k? Would it make sense to go for a joint or single application? Ideally we would like it to just go against my name rather than my partners.
We'd either use some of sale of the house or incorporate the outstanding loan into the mortgage (if possible) so that we'd just have the mortgage monthly to worry about.

Any thoughts on this would be greatly appreciated.

ACG

£400k is probably too high but £300-350k should be in the ball park.
But that is based on limited information.

If you are struggling to get there yourself, there is no harm speaking to a broker. Most brokers will be happy to work with you remotely, we have customs from Scotland down to Brighton, all done over the phone/email/

GavL

The amount my broker got me is almost double the amount the same high street lender gave me on their website, with the same information.Not sure how it all works!

But would have been entirely out of the property market with the amount given online.

TF03

ACG wrote: »

£400k is probably too high but £300-350k should be in the ball park.
But that is based on limited information.

If you are struggling to get there yourself, there is no harm speaking to a broker. Most brokers will be happy to work with you remotely, we have customs from Scotland down to Brighton, all done over the phone/email/

£400k was the top, absolute, "we will only go to that if we see something that can't not have" type of property.
Most of what we have seen during our initial searches have been £300-350k.

I'm guessing that would be based on both incomes?

Thanks for your help