Try now or wait few months..

Hi

Key metrics...

• Approx £240,000 in equity in our flat (can be used fully for deposit)
• Approx £15,000 savings
• Income of £100,000, £130,000 including bonus
• Desired purchase price of £750-800k
• Clean credit histories, I have a car on PCP for £285pcm, and £5k of 0% CC (which I can clear if needed)
• If we wait until Feb, the savings very likely be £30-35k

It seems there are a few lenders that will lend us what we need including stamp duty after speaking to them (example on £775k purchase, borrowing 555k inc stamp duty, leaves us with a 71% LTV, we are both young 26/30 and borrowing over a 30y term as an example yields potential monthly payments of £2k, which leaves us £4k for bills etc per month, and plenty of buffer for increase in rates). My key question is on their affordability calcs.

Right now, our expenditure is larger than it needs to be (however within monthly take home minus all bills, no over stretching), mainly as we enjoy the little things in life etc. Right now, we have started tightening this, so that we have a good few months of having substantial excess cash.

We could wait until Feb (more cash and higher income hopefully), and thus everything is setup, but if we were to apply in the next month or two, will it work massively against us that our new "cleaner" regime has not been ran for long?