Questions

Hi all,

Just after some advice, as I'm looking for a mortgage within the year.

I'm 23, I am currently earning 19400, with a 3% salary exchange for my pension, so technically 18834. I also have a car allowance of £310 a month (£3720k pa).

The property I am looking at is located in Andover, Hampshire on a shared ownership scheme. Total value is 190k, with a 40% share being 76k.

Now with my questions;

1) I dislike my job greatly at the moment and am on the lookout for a better one. Would it be advantageous to stick it out until after a mortgage application, or move into a new job with higher pay (Would probably be getting 22-26k instead of 19k?)

2) How would my car allowance be viewed? As part of my salary or a bonus?

3) Same as above with pension - will they view my actual salary as 19400, or 18834? I assume it won't make much difference as its not a massive difference anyway.

4) I have £300 on my credit card, and £300 in my savings. Should I just balance the books? Or continue to pay £150 a month on credit card?

5) My OH has a daughter who stays with us every other weekend, I assume this would not be viewed as a dependant? Or am I wrong?

6) I have a watch on 0% interest finance, which I am paying £80 a month for another 6 months. A fish tank on 0% interest at £30 a month for 11 months. Should I settle these early with savings? Or not worry too much as they are 0%?

7) With my car allowance, I have a car on hire purchase costing £300/month. I assume this will be viewed as debt against me? Will it be a big issue, or will the fact its covered by my car allowance offset this?

Sorry for so many questions.

Thanks for reading :)