Buying house decent deposit but low income

cooners

Densol said:

If your girlfriend is disabled - is she receiving benefits ? There are many mortgage companies that do take these into account - ie PIP, industrial injury, ESA  and that make make all the difference 
Id pick a 5 year fixed rate to give you stability for a long time 

She is getting PIP and ESA at the moment but once she moves in with me I'm not sure how much of it she'll keep. I need to work that out but she doesn't like talking about it.
Also she's got a lot of debt (again she won't go into it) so her credit rating is going to be awful.
This is why I think I'm going to have to do this on my own but I will look into it

[Deleted User]

cooners said:

Densol said:

If your girlfriend is disabled - is she receiving benefits ? There are many mortgage companies that do take these into account - ie PIP, industrial injury, ESA  and that make make all the difference 
Id pick a 5 year fixed rate to give you stability for a long time 

She is getting PIP and ESA at the moment but once she moves in with me I'm not sure how much of it she'll keep. I need to work that out but she doesn't like talking about it.
Also she's got a lot of debt (again she won't go into it) so her credit rating is going to be awful.
This is why I think I'm going to have to do this on my own but I will look into it

Oh a double edged sword. A broker can look at gf credit report and advise if its going to hinder or help. 

Re PIP - This is NOT means tested and makes no difference if you live together she will still get it. 

ESA - Depends if this is contribution based ( would still get it regardless ) or income based ( your income taken into account ) 

Barny1979

Go for a fixed mortgage, then no surprises.

cooners

coachman12 said:

I know it's not the sort of advice you want, cooners, but I think , especially in the current climate and your own circumstances, you may wish to consider living together in one (nicer) flat, saving at least part of your dual total housing bill, then save more ; and then see where you are in about 18 months.
Any chance of better job prospects ?  I told you that you wouldn't welcome my contribution. But very sincere good luck in your quest ; and I'm sure you and your girlfriend will be proud owners given time. 

I very much value your advice, there's no point asking a question if you don't want to hear peoples advice.
I have considered moving into a flat together but the HA we are both with won't give us anything bigger than what she has now. I only got a two bed in the first place because it's in Cornwall's only high rise and nobody else wanted it (I actually like it), I've tried to convince her to move in with me there as then we'd have a better idea of our joint income but she's having none of it (says she doesn't feel safe their plus it's no pets and she has cats).
Moving into a private place would likely at least double my rent and they have a habit down here of renting them out this time of year only to boot you out in 6 months to let them to holiday makers, when I rented privately in the past I spent half my life moving house!

Bonniepurple

With your partner being disabled, could she argue with the HA for a 2 bed?  I know it will depend on the disability, but she could go down the storage of equipment/sleep issues which mean that you are likely to be disturbed etc etc.  Might be worth a try.  

Otherwise, Shared Ownership might be the way to go.  It gets a bad press, but we had a SO for 11 years.  We we able to buy the quarter outright, and the rent was ridiculously low due to it being social housing (rather than a developer’s scheme!).  I do know that the HA rejected our original buyer because she needed a mortgage and they said it was unaffordable.  Our next buyer had the money outright.

fiwen30

Speak to your partner. PIP is not means tested. Establish what her income and her debt amounts are, and then take all the information to a mortgage advisor.