What are our chances?

saint_david

Me and my girlfriend are both planning on moving in together at some point this year. We both have mortgages on our own properties, mine is a 2 year old flat worth around £110k and my girlfriend owns a 2 bed house worth around £120k.

We've seen a property we'd like to move into thats on the market for around £170k. Would the fact that our seperate combined mortgages exceed this amount stand us in good stead for getting a mortgage on this property? Is there anything we should be aware of before proceeding?

MortgageMamma

The amount of mortgage you have got now has no impact on whether or not you could get a mortgage for the property you wish to buy, but if you answer some questions I'll try and help you out

1. how much deposit do you have
2. what do you both earn?
3. How much as your joint monthly credit commitments apart from the mortgage?
4. Have you had any present or historical bad credit - i.e. missed payments, arrears. county court judgements, defaults, bankruptcy
5. are you still tied into your current mortgages?

Thanks

MM

silvercar

Are you selling your existing properties or renting them out?

WHatever the mortgage available to you, the hassle of selling two properties and buying a third simultaneously is big. I would sell one move in together then sell the second.