Mortgage? Will we get accepted
We want to enquire if we will be eligible to get any form of mortgage either via the bank or through some kind of scheme.
I'm not looking for yes or no but whay are the chances of being accepted on our circumstances?
We both work 42 hours a week earning £1,200 a month each.
My partner has been at this job since november and ive been in my job since the beginning of January. We both have guaranteed contracts until July 31st 2015 and will either get another 6 fixed term contract or a year contract
Advice please...
Posted from TSR Mobile
I'm not looking for yes or no but whay are the chances of being accepted on our circumstances?
We both work 42 hours a week earning £1,200 a month each.
My partner has been at this job since november and ive been in my job since the beginning of January. We both have guaranteed contracts until July 31st 2015 and will either get another 6 fixed term contract or a year contract
Advice please...
Posted from TSR Mobile
Original post by emjaylu
We want to enquire if we will be eligible to get any form of mortgage either via the bank or through some kind of scheme.
I'm not looking for yes or no but whay are the chances of being accepted on our circumstances?
We both work 42 hours a week earning £1,200 a month each.
My partner has been at this job since november and ive been in my job since the beginning of January. We both have guaranteed contracts until July 31st 2015 and will either get another 6 fixed term contract or a year contract
Advice please...
Posted from TSR Mobile
I'm not looking for yes or no but whay are the chances of being accepted on our circumstances?
We both work 42 hours a week earning £1,200 a month each.
My partner has been at this job since november and ive been in my job since the beginning of January. We both have guaranteed contracts until July 31st 2015 and will either get another 6 fixed term contract or a year contract
Advice please...
Posted from TSR Mobile
Most banks will require you to provide 3 months worth of payslips; so you will struggle there.
Also: they are not going to luck the fact you're on temporary contracts.
How much would you be looking to borrow? Whats your deposit? Whats your credit scores like?
Original post by emjaylu
We want to enquire if we will be eligible to get any form of mortgage either via the bank or through some kind of scheme.
I'm not looking for yes or no but whay are the chances of being accepted on our circumstances?
We both work 42 hours a week earning £1,200 a month each.
My partner has been at this job since november and ive been in my job since the beginning of January. We both have guaranteed contracts until July 31st 2015 and will either get another 6 fixed term contract or a year contract
Advice please...
Posted from TSR Mobile
I'm not looking for yes or no but whay are the chances of being accepted on our circumstances?
We both work 42 hours a week earning £1,200 a month each.
My partner has been at this job since november and ive been in my job since the beginning of January. We both have guaranteed contracts until July 31st 2015 and will either get another 6 fixed term contract or a year contract
Advice please...
Posted from TSR Mobile
wait till next year- if the Conservative get voted into power, they will give First Time Buyer ISAs which will pay for 25% of your deposit!
Original post by FurQ2
wait till next year- if the Conservative get voted into power, they will give First Time Buyer ISAs which will pay for 25% of your deposit!
No, they will give you £50 for every £200, up to a maximum of £3000 contributed.
That's not 25% of your deposit..
Original post by Ezisola
No, they will give you £50 for every £200, up to a maximum of £3000 contributed.
That's not 25% of your deposit..
That's not 25% of your deposit..
No its 3000 given by the government for 12000 of your contribution. so in OPs case 6000 for their overall deposit of £24000
Original post by FurQ2
No its 3000 given by the government for 12000 of your contribution. so in OPs case 6000 for their overall deposit of £24000
You maths and percentages are wrong. And the limit is £3000 per person.
(edited 9 years ago)
Original post by Ezisola
You maths and percentages are wrong. And the limit is £3000 per person.
no,
it was announced you could contribute 12000, and the government would make up additional 3000. so both OP and partner can get 6k out of 24k deposit ( thats 25%, use a calculator)Original post by FurQ2
no, it was announced you could contribute 12000, and the government would make up additional 3000. so both OP and partner can get 6k out of 24k deposit ( thats 25%, use a calculator)
it was announced you could contribute 12000, and the government would make up additional 3000. so both OP and partner can get 6k out of 24k deposit ( thats 25%, use a calculator)If OP got a £6k contribution ontop of their £24k savings then the total amount for their deposit is £30k.
£6k is 20% of £30k. Use a calculator.
Original post by Ezisola
If OP got a £6k contribution ontop of their £24k savings then the total amount for their deposit is £30k.
£6k is 20% of £30k. Use a calculator.
£6k is 20% of £30k. Use a calculator.
no i said overall deposit is 24k , of the deposit, OP gets 6k from the government . learn to read, then how to use a calculator.
Original post by FurQ2
no i said overall deposit is 24k , of the deposit, OP gets 6k from the government . learn to read, then how to use a calculator.
No my friend, you said:
which will pay for 25% of your deposit!
except it won't. It will pay for 20% of their deposit
Original post by Ezisola
No my friend, you said:
which will pay for 25% of your deposit!
except it won't. It will pay for 20% of their deposit
which will pay for 25% of your deposit!
except it won't. It will pay for 20% of their deposit
6k is 25% of your 24k deposit
can someone else explain this to him pls!Original post by FurQ2
6k is 25% of your 24k deposit
can someone else explain this to him pls!
6k is 25% of your 24k deposit
can someone else explain this to him pls!If they have saved £24k, they will be given another £6k towards the deposit. Making the total deposit £30k.
If they only require a deposit of £24k then they will only need to save £20k and the government will add £4k to make it to £24k. Again, 20% of the total amount. The money is only paid at time of house purchase; implying that the entire pot must go on a house deposit.
We weren't going to apply now but was gonna wait a few more months or even next year.
We both have good credit history and we can put down a deposit of atleast 12k-15k by the end of the year.
We have both been putting away 700 of our 1200 a month wage away into savings. We dont have any spending costs apart from about £100 bills each a month but that sill leaves us £400 each a month which is more than enough for us to live on currently.
We live with my partners parents as we are 19 and 20 so still young. But have already saved a significant amount
Posted from TSR Mobile
We both have good credit history and we can put down a deposit of atleast 12k-15k by the end of the year.
We have both been putting away 700 of our 1200 a month wage away into savings. We dont have any spending costs apart from about £100 bills each a month but that sill leaves us £400 each a month which is more than enough for us to live on currently.
We live with my partners parents as we are 19 and 20 so still young. But have already saved a significant amount
Posted from TSR Mobile
Original post by emjaylu
We want to enquire if we will be eligible to get any form of mortgage either via the bank or through some kind of scheme.
I'm not looking for yes or no but whay are the chances of being accepted on our circumstances?
We both work 42 hours a week earning £1,200 a month each.
My partner has been at this job since november and ive been in my job since the beginning of January. We both have guaranteed contracts until July 31st 2015 and will either get another 6 fixed term contract or a year contract
Advice please...
Posted from TSR Mobile
I'm not looking for yes or no but whay are the chances of being accepted on our circumstances?
We both work 42 hours a week earning £1,200 a month each.
My partner has been at this job since november and ive been in my job since the beginning of January. We both have guaranteed contracts until July 31st 2015 and will either get another 6 fixed term contract or a year contract
Advice please...
Posted from TSR Mobile
Assuming these are your first contracting jobs, it would be unlikely due to lack of experience. However, if you have had a reasonable amount of 'continuous' and related employment in the past, then you should be OK.
However, it'll depend from lender to lender. Best to check their lending criteria.
Nationwide
Applicants must have been employed on a fixed term contract basis for a minimum of 12 months. If they have not, they must have at least 24 months remaining on their current contract.
Halifax
Applications will be considered from the above employment types if the customer has a current continuous employment of 12 months or more with 6 months of the contract remaining or the customer has 2 years continuous service in the same type of employment.
Santander
We will consider customers on non-permanent employment contracts.
Virgin Money
Spoiler
Disclaimer: These lending criteria pages are designed for Brokers' use. How you are considered as a customer may differ when applying to a bank directly.
(edited 9 years ago)
Original post by FurQ2
No its 3000 given by the government for 12000 of your contribution. so in OPs case 6000 for their overall deposit of £24000
So 20%?
In over five years time.
Original post by FurQ2
6k is 25% of your 24k deposit
can someone else explain this to him pls!
6k is 25% of your 24k deposit
can someone else explain this to him pls!No, because you're wrong.
£6k is 20% of your £30k deposit.
Sometime in 2020.
Original post by dgarrish
The results of AIG applications typically do not leave such footprints, in fact, from experience, I've made a few ambitious yet failed applications to countless banks over the years and none have affected my rating. This will however, vary from bank to bank.
Edit: I heard HSBC is one of the worst offenders of this. Although I haven't applied to HSBC before as their rates have always been significantly higher than elsewhere.
However, many do leave soft credit check footprints. The bank or building society will always tell you before hand if they intend to do a soft or hard check. At one point I had 10 soft enquiries on my credit report which didn't even scratch my perfect rating. They're pretty harmless unless you really go overboard with your applications AND get a significant amount of them declined.
(edited 9 years ago)
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