First time buyer advice please

bryanmccombe

Me and my girlfriend are looking to buy our first home in 2020.

We have looked at a lot of properties in the local area (which luckily are not horribly expensive)
We are looking at buying a 3 bedroom mid terraced property between 75k and 85k.

At the midpoint of next year we will be in the position where we have;

- A combined total of 8k in our Lifetime ISA'a (one each)
- A combined income of 40k (mine is 25k, hers is 15k)
- No loans or credit card debt - only a car loan with 2 years left to run.

My main questions are what sort of fees would we be looking at as first time buyers ?

Would we have any trouble getting a mortgage for this amount ?

Also i am 24, she is 21.

Any help appreciated!

Retired_Mortgage_Adviser

10% deposit, borrowing of around 70k, combined income of 40k, only one car loan as unsecured debt.

Assuming that there isn't anything unusual in the background (poor credit history, etc) you should have no problem at all getting the mortgage you need.

The sort of fees you might encounter and need cash for as an FTB are listed here -https://www.moneysavingexpert.com/mortgages/mortgage-fees-stamp-duty/

ACG

Solicitors - £1000 (ish) depending on high street or online conveyancer, freehold or leasehold property that could be more or less. But £1000 should cover the bulk of it, you may even have some change.

Valuation fee - £300 (could even be free).

Broker - £0-500 If you plan on using one.