Last weekwe found out that our landlord who has been living in Australia for the last 5years is coming back to the UK and consequently we've been given the minimum 2 monthsnotice period to leave the property. We've been renting (paying off their mortgage)for the last 3 years so now I feel is the time for us to buy our own property.
Oursituation is as follows:
- Family of 4, two kids aged 3 & 5
- Total credit card debts (roughly £1500)
- No other debts (except for our student loans! lol)
- £20k deposit
- One income (£33k per annum)
- My credit score (Experian = 682, Wife = 970)
We haveuntil the 12th of May to leave the house so I would love to sort out a mortgagebefore then so we can just move into our new home. I'm not sure if this is evenpossible?!
We foundthe property we want and we have already put in an offer of £16000 so with ourdeposit of £25000 it means we need to get a mortgage of £135000. Somehow I feellike I won't be able to get this given my bad credit score?!
Wouldlove to hear your advice?