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    • confused0376
    • By confused0376 9th Jun 17, 9:36 AM
    • 6Posts
    • 0Thanks
    Mortgage Advice please?
    • #1
    • 9th Jun 17, 9:36 AM
    Mortgage Advice please? 9th Jun 17 at 9:36 AM
    I am looking to move house. I have minimum 50k equity (have been told more but 'm being cautious). salary is 19K, I have a loan for windows which will be paid off from profit from sale if not before, monthly payment to this is 105. Credit card with 1500 balance will be paid off. on top of salary, 500 a month tax credits, 138 month child benefit and 250 month maintenance through a legal signed agreement. Had a quote from Nationwide who take all income into account, say they can give 100,000 over 19 years or 115,000 over 25 years. House I am looking to buy (private sale) is around 150,000.

    I'm looking for reassurance to go for agreement in principle, not necessarily from Nationwide but any other that also takes into account all or at least most income pathways. Quote from Nationwide asked for debt levels at time of moving house, which will be none as they will be paid off (no missed payments etc). Does this all really sound possible? Any advice appreciated
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    • Lilla D
    • By Lilla D 9th Jun 17, 4:06 PM
    • 327 Posts
    • 167 Thanks
    Lilla D
    • #2
    • 9th Jun 17, 4:06 PM
    • #2
    • 9th Jun 17, 4:06 PM
    Yes, it sounds about right.

    However, if you are already looking for reassurance at this stage, you'll have plenty more worries during the process and with a direct application you'll have no one to ask. You may be better off finding a broker you like and trust, so they can not only go through your options, but also help you and answer all your questions during the process.
    I am a Mortgage Broker
    You 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.
    • confused0376
    • By confused0376 9th Jun 17, 6:06 PM
    • 6 Posts
    • 0 Thanks
    • #3
    • 9th Jun 17, 6:06 PM
    • #3
    • 9th Jun 17, 6:06 PM
    Thanks Lilla

    I got this information/quote through my broker that I used to buy my first house, he said that Nationwide was probablythe most likely due to their income criteria. Was just looking for any more idea or advice before I go ahead with it
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