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Dreamingandimpatient
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do you have enough money for the deposit?
Ask your broker if this will be ok.
Is your broker from the EA/ developer?"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
I'm not a broker / expert, but you haven't given nearly enough information. Salaries, debt level, price of house, whether you intend to use help to buy, deposit available, and whether it is gifted would all be needed for anyone to have much idea.
Basically debt can be fine if you aren't pushing to your maximum with your borrowing. It will reduce how much you can borrow, so if you or your broker are struggling to find a big enough loan without debt you'll have precious little chance with it.0 -
More money left over each month is not a metric in the mortgage decision process. Repaying debt on or before completion will help affordability.Dreamingandimpatient wrote: »So the question is - continue as we are and get it paid and risk the bank declining us because most of our wages are gone or pay minimum payments have more money left over each month but then it won’t be paid ahead of completion?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Yes, from the developer. Is this a good idea or a bad idea? Should I get an independent ?0
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