Hi All,
I currently live with my girlfriend in a shared house, I have 2 children from a previous marriage that I have stay every other weekend, My house mates don't get on with my children and tbh, why should they have to deal with the noise children inevitably produce in a shared house they pay for.
I stay at my parents with them when I have them, this has worked fine for the last year but is starting to grow tiring now and me and my girlfriend are getting closer and would like to be a family unit when they stay.
So, I spoke with my girlfriend and we have both decided we should buy a house together, I have savings of £3000 and this grows monthly by £900.
My partner saves £500 a month and currently has £1000.
I earn £34k in full time employment for 5 years and my partner earns £13-14k as a newly qualified teacher, only 11k of this is contracted the rest is sessional work.
at present our rent is very low which enables us to save the figures we do but Child Maintenance and travel costs to work take a hit on my salary which worries that the £900 I save now will be used for repayments and all associated bills.
I want to be in a position where a single one of our salaries can support the running costs of the house, I believe my salary could do this but not my girlfriends...
The houses we are looking at are in the £80k range so as to keep the payments manageable, wont be in the best area but the houses available in that area are close to family and my children.
I'm tempted to just apply for a 95% mortgage now but I feel this might be knee jerk when I could save the other 5% in 6 months tops or even use my credit card or a loan to make up the remaining £4k...silly idea but I don't want to lose the house that we want.
basically....what should I do!?
I currently live with my girlfriend in a shared house, I have 2 children from a previous marriage that I have stay every other weekend, My house mates don't get on with my children and tbh, why should they have to deal with the noise children inevitably produce in a shared house they pay for.
I stay at my parents with them when I have them, this has worked fine for the last year but is starting to grow tiring now and me and my girlfriend are getting closer and would like to be a family unit when they stay.
So, I spoke with my girlfriend and we have both decided we should buy a house together, I have savings of £3000 and this grows monthly by £900.
My partner saves £500 a month and currently has £1000.
I earn £34k in full time employment for 5 years and my partner earns £13-14k as a newly qualified teacher, only 11k of this is contracted the rest is sessional work.
at present our rent is very low which enables us to save the figures we do but Child Maintenance and travel costs to work take a hit on my salary which worries that the £900 I save now will be used for repayments and all associated bills.
I want to be in a position where a single one of our salaries can support the running costs of the house, I believe my salary could do this but not my girlfriends...
The houses we are looking at are in the £80k range so as to keep the payments manageable, wont be in the best area but the houses available in that area are close to family and my children.
I'm tempted to just apply for a 95% mortgage now but I feel this might be knee jerk when I could save the other 5% in 6 months tops or even use my credit card or a loan to make up the remaining £4k...silly idea but I don't want to lose the house that we want.
basically....what should I do!?