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Future Mortgage Seeker - Questions from a future First Time Buyer
FutureMortgageSeeker
Posts: 11 Forumite
Afternoon All
Fully appreciate this is a projection of where I want to be in 3 years' time but I am hoping someone can advise. I would like to be in a position to purchase my first home in 3 years. My credit history is adverse due to PDL use which will be 3.5 years old when I am hoping to apply for my first mortgage. No defaults and all repaid - I don't need telling that they are damaging but I am conscious that the set of circumstances which contributed to them being taken out are no longer.
1 buyer - no dependents, no partner/spouse.
Salary: £39,000 - current and ignoring any potential increases. 3.5 years in current job.
Deposit: £15,000.
House Purchase Price: £125,000
No debt
Emergency Fund: £12,000
Realistically, with no adverse credit, would I need a specialist broker?
Thanks in advance,
FMS
Fully appreciate this is a projection of where I want to be in 3 years' time but I am hoping someone can advise. I would like to be in a position to purchase my first home in 3 years. My credit history is adverse due to PDL use which will be 3.5 years old when I am hoping to apply for my first mortgage. No defaults and all repaid - I don't need telling that they are damaging but I am conscious that the set of circumstances which contributed to them being taken out are no longer.
1 buyer - no dependents, no partner/spouse.
Salary: £39,000 - current and ignoring any potential increases. 3.5 years in current job.
Deposit: £15,000.
House Purchase Price: £125,000
No debt
Emergency Fund: £12,000
Realistically, with no adverse credit, would I need a specialist broker?
Thanks in advance,
FMS
0
Comments
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Nope. Absolutely not.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
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Thank you. I was concerned the PDLs would mean waiting for 6 years. This is reassuring.
Best wishes,
FMS0 -
Some lenders do not like pay day loans even historic ones like those. From what you have said you will be fine with 99% of lenders out there.I am a Mortgage AdviserYou 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.0
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Thank you for the swift and informed response(s). More than appreciated.
Best wishes,
FMS0
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