Just looking for a bit of advice.
This is the situation so far; I am a first time buyer
House is up for sale for £45k (Repo)
Annual Income £14,800
Debt of around £2000 on two credit cards and a loan for a sofa
Were hoping to get a mortgage for 95% with a gifted deposit from partners Grandparents - Here is the issue.
Leeds had originally gave us the DIP based on all of the above and confirmed the gifted deposit would be fine despite not being from my blood relative.
One week later and (Luckily) a gazumped offer on another house and they call back to say they had made a mistake and actually I can't use the gifted deposit as it is not from my blood relative.
Unfortunately my partner has a poor credit history therefore the mortgage can only be in my name.
Any suggestions of how we can get around this? I don't have contact with my blood relatives anymore so a deposit from them is out of the question.
We're both so frustrated and annoyed with the whole situation & struggling to see a light at the end of the tunnel :(
Any advice appreciated! Thanks
This is the situation so far; I am a first time buyer
House is up for sale for £45k (Repo)
Annual Income £14,800
Debt of around £2000 on two credit cards and a loan for a sofa
Were hoping to get a mortgage for 95% with a gifted deposit from partners Grandparents - Here is the issue.
Leeds had originally gave us the DIP based on all of the above and confirmed the gifted deposit would be fine despite not being from my blood relative.
One week later and (Luckily) a gazumped offer on another house and they call back to say they had made a mistake and actually I can't use the gifted deposit as it is not from my blood relative.
Unfortunately my partner has a poor credit history therefore the mortgage can only be in my name.
Any suggestions of how we can get around this? I don't have contact with my blood relatives anymore so a deposit from them is out of the question.
We're both so frustrated and annoyed with the whole situation & struggling to see a light at the end of the tunnel :(
Any advice appreciated! Thanks