Mortgage and Credit Cards

Tabieth

FrancisBegbie said:

Can everyone calm down 

I’ve sorted my !!!!!! out 
my lifestyle has completely changed 
I can pay it off 

I’ve got the chance to own the  first time property of my dreams whilst it’s on the market 

I’ve got 45k job plus bonus 

I have no kids 
no car to pay for 

I need to secure the property carrying the debt and pay it off 

I’m perfectly calm thanks. You’ve asked for advice and you’ve received it. You obviously don’t like the advice you’ve got - that’s fine. But I (and others) have posted with the intention of being helpful. Nothing more. 

Your plan is a good one if you have the financial discipline to pay off your debt. However, it is a bad plan if you haven’t. Only you know the answer to that, all we have to go on is what you’ve posted on the boards. 

Good luck with it all. 

FrancisBegbie

Tabieth said:

FrancisBegbie said:

Can everyone calm down 

I’ve sorted my !!!!!! out 
my lifestyle has completely changed 
I can pay it off 

I’ve got the chance to own the  first time property of my dreams whilst it’s on the market 

I’ve got 45k job plus bonus 

I have no kids 
no car to pay for 

I need to secure the property carrying the debt and pay it off 

I’m perfectly calm thanks. You’ve asked for advice and you’ve received it. You obviously don’t like the advice you’ve got - that’s fine. But I (and others) have posted with the intention of being helpful. Nothing more. 

Your plan is a good one if you have the financial discipline to pay off your debt. However, it is a bad plan if you haven’t. Only you know the answer to that, all we have to go on is what you’ve posted on the boards. 

Good luck with it all. 

Thank you 

Uriziel

I really cannot figure out how you are on 45k+bonus but somehow you still manage to have a 18k debt while living at home and not paying rent and yet you are also saying that your deposit is from your parents so you do not even have any savings..? This makes no sense at all. Either way pay off your debit before asking for a mortgage. They will find it. If all of this is true you clearly have a problem with spending since you have debit going up while receiving decent pay.

elsien

Have you worked out how you’re going to pay for all the furniture, et cetera to go in your house without running up further debr? 

RAS

elsien said:

Have you worked out how you’re going to pay for all the furniture, et cetera to go in your house without running up further debr? 

Just what I am thinking.

OP, forget furnishing this property. You can't afford it but may want a new mattress. Beyond that start looking at Facebook, Freegle, Freecycle and earwig colleagues who are getting a new sofa, dining set etc. And start hoarding kitchen stuff, bedding, cleaning equipment now. Car boots, chazzers, discount stores. Make lists and slowly cross stuff off.

You also need a proper budget, look at the Statement of Affairs on lemonfool.co.uk. Likely the utilities will front load the DDs, looking for 15 months usage paid for in 12 months. Check whether the property has been assessed as either a second or empty property by the LA. If so, "move in" the day you get the keys with a bedroll and sleeping bag if needs be, so you can reset the valuation.