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getting a mortgage
redballoon_2
Posts: 1,555 Forumite
will it matter if i don't have that much money in my account at the moment when applying for a mortgage?
Make £10 a day challenge March 2013 £101.24 / £240 :j
WSC 10 March - £0 / £5
Debt £17,294 - 7th March
WSC 10 March - £0 / £5
Debt £17,294 - 7th March
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Comments
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redballoon wrote:will it matter if i don't have that much money in my account at the moment when applying for a mortgage?
Don't think so.
It's all about what debts you have, what your income is and how much of a deposit you're putting down.
Not sure if an overdraft is classed as a "debt", like a loan. Others on here will be able to answer this better.0 -
thanks for the info, we are putting £100k as deposit.
we have £5k on the credit card, but this will be cleared in the next month or so.Make £10 a day challenge March 2013 £101.24 / £240 :j
WSC 10 March - £0 / £5
Debt £17,294 - 7th March0 -
Affordability is a lender's main concernI 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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i have worked out it would be around £400.00
the mortgage would be based on my salary but i have my finance's money too.Make £10 a day challenge March 2013 £101.24 / £240 :j
WSC 10 March - £0 / £5
Debt £17,294 - 7th March0
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