Need Some Help and Support
We are in a bit of a pickle at the mo. We're renting a flat which is costing a bomb and we would like to buy a house and move in in time for the baby's arrival. We know which house we want. We went to see it - it's on our housing development and it is gorgeous! Problem is finding a mortgage!!
Because we are first time buyers, I'm on maternity so they can't use my income so it's just oh's income they take into account. Also, he hasn't been in his current job long (4 months).
We have looked at fast track mortgages, guarantors (using mum and dad as back-up), and interest only ones until the baby's born and we get back on our feet.
ANY advice is much appreciated anything at all. What you went through and how is worked out for you in the end. Thanks girls.
Karys 18+4 weeks.
Because we are first time buyers, I'm on maternity so they can't use my income so it's just oh's income they take into account. Also, he hasn't been in his current job long (4 months).
We have looked at fast track mortgages, guarantors (using mum and dad as back-up), and interest only ones until the baby's born and we get back on our feet.
ANY advice is much appreciated anything at all. What you went through and how is worked out for you in the end. Thanks girls.
Karys 18+4 weeks.
0
Replies
AARRRGGHHH!
Glad to hear that there may be a light at the end of the tunnel. Thank you.
with self-cert do they need proof of income? We know we could afford the repayments no matter what is that some companies are so FUSSY!
I just wish there was a company out there that would lend us what we need (??109,000 we have a deposit of ??57,000). They have nothing to worry about - if we don't make the repayments then they take our house...they'll never lose out so what's the big deal??
When I've looked into self cert what I've found is you dont have to prove your earnings which is why its the only choice for us. There is a but though you cant borrow as much but looking at your figures you dont have to you only want about 50% I think. Obv your signing to say you can make the repayments and if you cant you'll be in trouble! But I would still say go and see a finanical advisor or mort brooker and get them to do the leg work for you. The internet is also good for getting ideas and moneyfacts is a good comparison website for mortgages. hope you get the house X
We finally moved into our house Feb 07- my baby was born in April so we didn't have long to get things ready but it worked out well in the end.
I hope you get things sorted and good luck with the dream house, hope you get it. x