Hello!
Can anyone offer me any advice please?
I am 38yrs old, divorced and self employed carer needing to secure a mortgage of about £50k if possible.
I am currently selling my marital home (OIEO £300k) and need to pay my ex husband £40k and clear the mortgage (his sole name) of c. £117k, the remains are for me to use to buy another home. I am currently paying half of the mortage which is £304.11 pcm.
I have only 18 months of self employed history behind me, working for only one company, work is consistent and I could be taken on as an employee but my accountant advised me not to as I am better off self employed.
I earn just over £1k per month gross, in addition I get tax credits of £190 per week (for my 13 year old daughter and my partners 14 year old daughter,) also, £134 pcm child benefit and currently £100 child support from my ex, should rise in September to c. £300, all in all about £22k per year gross.
I have never had a mortgage and Experian rates me as a "fair" credit risk, mostly due to the fact that I am using 90% of my available credit, I have one missed payment in the past year. I would like to clear these debts when I move.
I should have a deposit of between £100k and £130k but need to top up with a mortgage of about £50k.
What are my chances of being able to get a mortgage, will the large deposit be much of a help, and am I classed as a FTB or not? Where do I start, has anyone got any advice at all please?
Thank you!
Claire
Can anyone offer me any advice please?
I am 38yrs old, divorced and self employed carer needing to secure a mortgage of about £50k if possible.
I am currently selling my marital home (OIEO £300k) and need to pay my ex husband £40k and clear the mortgage (his sole name) of c. £117k, the remains are for me to use to buy another home. I am currently paying half of the mortage which is £304.11 pcm.
I have only 18 months of self employed history behind me, working for only one company, work is consistent and I could be taken on as an employee but my accountant advised me not to as I am better off self employed.
I earn just over £1k per month gross, in addition I get tax credits of £190 per week (for my 13 year old daughter and my partners 14 year old daughter,) also, £134 pcm child benefit and currently £100 child support from my ex, should rise in September to c. £300, all in all about £22k per year gross.
I have never had a mortgage and Experian rates me as a "fair" credit risk, mostly due to the fact that I am using 90% of my available credit, I have one missed payment in the past year. I would like to clear these debts when I move.
I should have a deposit of between £100k and £130k but need to top up with a mortgage of about £50k.
What are my chances of being able to get a mortgage, will the large deposit be much of a help, and am I classed as a FTB or not? Where do I start, has anyone got any advice at all please?
Thank you!
Claire