Hi All,
Just wondering if anyone has any advice.
been given £10,000 by a family member for a deposit for a house.
we are looking at a property for £50,000 so therefore we would be paying 20% deposit.
£40,000 left to pay.
we do have a Unsecure Loan with our bank, and 2 credit cards, which we use for shopping etc each week, so decent sized payments are made to them each month.
The mortgage amount that we would be paying over 20-30 years would be £100 less per month than the rent we are paying each month now.
Only issue is my wife was recently declined for a Tesco Credit Card.
Stating she had too much credit when they sent out the forms to confirm decline.
Would this straight away rule out us for getting a mortgage with our bank who we have banked with for 12 years?
Any advise would be great.
(also we have all money ready for fee's required for a mortgage etc so, needing additional to cover these costs is not a problem)
Thanks
James
Just wondering if anyone has any advice.
been given £10,000 by a family member for a deposit for a house.
we are looking at a property for £50,000 so therefore we would be paying 20% deposit.
£40,000 left to pay.
we do have a Unsecure Loan with our bank, and 2 credit cards, which we use for shopping etc each week, so decent sized payments are made to them each month.
The mortgage amount that we would be paying over 20-30 years would be £100 less per month than the rent we are paying each month now.
Only issue is my wife was recently declined for a Tesco Credit Card.
Stating she had too much credit when they sent out the forms to confirm decline.
Would this straight away rule out us for getting a mortgage with our bank who we have banked with for 12 years?
Any advise would be great.
(also we have all money ready for fee's required for a mortgage etc so, needing additional to cover these costs is not a problem)
Thanks
James