First time buyer advice

cosh25

Hi. I have posted on here before about my journey to buy a house and furlough getting in the way. After speaking to a broker on 25th Jan we agreed to wait until 25th Feb to do anything as this is my next pay date and will be my first payslip showing me returning to a full months wage. Other than this the process should be straight forward. DIP done with Halifax, 15% deposit and FTB with no bad credit etc.

The house I was looking at is still up for sale and I am itching to get the ball rolling. The house has been up since the 6th Jan, longer than usual and I think its due to it needing a full refurb. Its also empty and as far as I gather had very little interest. If I make an appointment with the mortgage broker for the 25th, how far in advance would you say I could reasonably put an offer in and get away with a gap between this and waiting for the broker appointment to submit my full app?

Thanks in advance!

[Deleted User]

Is Halifax a must?  There are other lenders with more flexibility with furlough on payslips 

cosh25

Deleted_User said:

Is Halifax a must?  There are other lenders with more flexibility with furlough on payslips 

Hi, thanks for the reply. When I had the original appointment last week I didn’t have a letter from work advising I had returned from furlough, I do have this now. The broker said Barclays would be an option but they may question a bit more about the industry I am in (I work in finance for a travel agent). For ease of doing the application we both agreed to wait until i had a payslip showing full pay. I think the DIP was done with Halifax due to it not leaving a hard search on the credit file.

singh001

cosh25 said:

Hi. I have posted on here before about my journey to buy a house and furlough getting in the way. After speaking to a broker on 25th Jan we agreed to wait until 25th Feb to do anything as this is my next pay date and will be my first payslip showing me returning to a full months wage. Other than this the process should be straight forward. DIP done with Halifax, 15% deposit and FTB with no bad credit etc.

The house I was looking at is still up for sale and I am itching to get the ball rolling. The house has been up since the 6th Jan, longer than usual and I think its due to it needing a full refurb. Its also empty and as far as I gather had very little interest. If I make an appointment with the mortgage broker for the 25th, how far in advance would you say I could reasonably put an offer in and get away with a gap between this and waiting for the broker appointment to submit my full app?

Thanks in advance!

I went through Barclays as my partner is on furlough and she works in retail. They only took her 80% salary into consideration. Applied on 29th Jan got an offer through on 2nd Feb. Was really impressed on how quick it was.