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    • TJ77
    • By TJ77 9th Jan 18, 4:13 PM
    • 2Posts
    • 1Thanks
    TJ77
    Help with mortgage advice please
    • #1
    • 9th Jan 18, 4:13 PM
    Help with mortgage advice please 9th Jan 18 at 4:13 PM
    We are currently in rental accommodation (hate renting ) and our landlord has decided to sell the house. We have 2 months notice. We are in rented because I have only just being made permanent last Sept and my husband is self employed. Our plan was to stay in our rented house and look to buy in a few years as we don't have any deposit. But obviously now our situation has changed I want to see what our options are. So any mortgage advice would be great.
    Here is our info/questions: we have no deposit can you still get 100% mortgages? We have owned property before but not for 4 and a half years, do we class as first time buyers as we have no mortgage? Does child tax credit and child benefit count towards mortgage income?
    I earn 16,816 a year, 2,280 in child benefit, 6,760 in child tax credit and husband only brings in about 2000 or 3000. We pay 292 a month on credit card, no car finance or loans.
    So basically is there any chance we'll ever get a mortgage! We are OK/average credit wise as far as I know. I know we can improve by saving for deposit and this was the plan, just asking now due to circumstances. Thanks in advance for any help/advice.
Page 1
    • Lolly88
    • By Lolly88 9th Jan 18, 6:22 PM
    • 311 Posts
    • 830 Thanks
    Lolly88
    • #2
    • 9th Jan 18, 6:22 PM
    • #2
    • 9th Jan 18, 6:22 PM
    You can get 100% mortgages but I think you usually need a guarntor to access this or some other strict conditions - they are not easy to obtain. https://www.money.co.uk/mortgages/100-mortgages.htm

    You are not a first time buyer as you have owned a property.
    House Fund - 35078.21
    Currently buying a house
    • TJ77
    • By TJ77 9th Jan 18, 7:03 PM
    • 2 Posts
    • 1 Thanks
    TJ77
    • #3
    • 9th Jan 18, 7:03 PM
    • #3
    • 9th Jan 18, 7:03 PM
    Thanks thought that was the case re: first time buyer. It's just we aren't moving house either so wasn't sure what type of deal I was looking for!
    • Thrugelmir
    • By Thrugelmir 9th Jan 18, 7:14 PM
    • 58,885 Posts
    • 52,211 Thanks
    Thrugelmir
    • #4
    • 9th Jan 18, 7:14 PM
    • #4
    • 9th Jan 18, 7:14 PM
    So basically is there any chance we'll ever get a mortgage!
    Originally posted by TJ77
    There is if it's your dream. You need to make everything work in your favour. However small it maybe.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
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