"Separated" ex-homeowning father - best way to describe myself?

bricksandmortar

I'm having a real issue getting mortgage quotes so would appreciate a little guidance on the best way to present myself so that the online/phone based agreements in principle will actually give me a decent value. There seems to be a variance from slightly above the amount I need, to values that barely match a single multiple of my salary.

I am a father, never married, and now living apart from my former partner and the children. I was previously on a joint mortgage but now rent privately. I have a generous deposit.

I earn decent money, and pay the appropriate amount of child maintenance based on the government guidelines but in a private arrangement.

I have a couple of credit cards with a manageable balance on 0% terms which I could pay off at any time. I do have two student loans from different eras which confuses people. I don't have any other debt. I own my car outright and live fairly simply.

So am I:
- A first time buyer, or a home mover?
- Someone with dependants, or someone without?
- Should I keep my credit cards or just pay them off now?

Obviously I want to be honest but the systems appear to make assumptions about me that mean I fail to get a good deal - my situation is not exactly unusual, but isn't really an option on the yes/no style of form!

csgohan4

consider a broker who can get lenders to suit your circumstances. But you are not a first time buyer as you owned before.


You will need to give more info such as income, debt, house price?

ACG

Dont worry about your status, it is unlikely to make any significant difference in the products, there may be the odd product for a first time buyer but if you have a good deposit (ie 25% plus) then I doubt this will be an issue.

In any event, if you have owned a home chances are you will just be classed as a home mover. Some lenders will treat you as a first time buyer if you have not owned a home for x number of years, but that is specific to them.

Dont worry about it though, you are probably just over thinking it (easily done in our industry).