Help and Advice please !!

russandkaren

Hi, first post on here....

Need some advice and help. We have just gone back to square one buying a house, as the house owners of the house we were going to buy have pulled out. Anyway, we have since seen what we consider our dream home, but these are the details...

On market for £299,995
We have £50,000 to put down.
Our combined pay is £50,000
Worse-case mortgage required would be £250,000 (subject to how much we could get the house for)
We have a further £50,000 to put down but not available until February 09.

We still have a First Direct mortgage on the table, fixed for 5 years with a good rate, but they won't lend us the extra that we need. I've heard that Abbey National will lend 6 x earnings ? Can anyone give me their thoughts or advice on where to go please ?

Whilst we are at the top end of our limit financially, I would hate to think that we hadn't explored all options to be able to secure this property !

Thanks in advance...Russ

poppy10_2

6x joint income is going to be near-impossible in todays climate.

_Andy_

Abbey are / can be pretty generous - however it will come down to how well your credit score with them, additionally affordability, e.g. outgoings on other debts.

Conrad

My favorite question from potential clients and to which I never have an answer.

Until you apply to a lender the outcome is not known.