Ideas on how to get house

moneysavinghero

52k deposit would be 13% so that should not be a problem unless you are an unusual case. You would generally need an income greater than £74k. Do you earn this much. If you do then maybe you need to look at different mortgage providers.

Otherwise you will just have to accept that you cannot afford this one and keep on looking for something a bit cheaper.

class2ldn

Well combined we are on over 85k.
We do have quite a high monthly outgoing which is probably the issue however thats because I'm paying a lot of stuff off to get out of debt, its just credit cards really, I do have an expensive car which I'm getting rid of as the px on it is higher then my settlement so won't be losing any money there but will be saving a lot each month there however the broker said he's factored that in and even with me selling the car they will still only lend us 324k.
I earn 63k a year, my wife is on 22k and she has virtually 0 debts, no loans, no credit cards, just a car loan of 350 a month, thats it.
I'm wondering whether a new broker might be in the frame as I don't think  he searches all lenders and is a bit limited .

moneysavinghero

Yes your debt will be the issue. Lenders are going to be wary about lending to you. Maybe a different mind set on your part is what is needed. Instead of trying to find ways to afford things that you cannot afford by chucking it on a credit card adjust your expectations and buy somewhere cheaper. Then you will have enough money to pay off your debts quicker. Then in a few years you may be debt free and you will find it easier to get a mortgage on a more expensive property. Get away from thinking you have to have everything now.

theoretica

The property is up for 385 - but if you can only afford 376 at the moment it might be worth putting in an offer for that anyway.

wjr4

It sounds like you’ve had an expensive wedding and two expensive cars, if you want a bigger house then maybe these things should have been cheaper?

wjr4

How much debt have you actually got including the remainder on the cars? 

Atomix

You could unagree £270k and try to sell for £280k...

wilfred30

class2ldn said:

comeandgo said:

Get a second job to help save more?  How much a month do you save?  A purchase can take months and months, you may have it before exchange.   Just because the asking price is £385k the sold price could be under that or over £400k,

Yeah I get what your saying but I dont think k wed be able to save 10k up in time. 
I earn well and between us we are on a really good wage but it still won't be quick enough. 
We offered 380 but they want the full asking price as its had a lot of interest.
Frustrating 

In which case it could go over the asking price.  It appears to be out of your reach already so that would completely put the kybosh on it.
I agree with others that you should probably just forget this one and look for something you can actually afford.

lookstraightahead

We have 7 income streams - lots of income from part time / self employed etc. When we applied for a mortgage only two could easily be taken into consideration, so OH got another job - manual work, so that we could get the house we wanted. It's a nice welcome income.

I think your broker is being sensible. You've got debt, high outlay and you are at the top of your affordability. 

Gentoo365

Have you worked out how much of your debt you would have to pay off to increase the loan about by £10k.
It may be you don't need to raise quite so much as the constraint isn't the deposit, it's the debt.

Mortgage broker should be able to advise.