Hi All,
I am currently buying our first house, having rented for the last 12 years. I believe we are in a relatively strong financial position, but would be interested in any advice/tips on how to make the most of this.
We have had an offer accepted on a house at the weekend for £340,000 (Freehold, not new build, detached).
Current position is:
Income: ~£175,000, consisting of:
- Salary: £103,200
- Annual Contractual Bonus: £37,600
- Income from Share Options: ~£35,000
Deposit:
- £65,000 available cash (from savings + parental gift), for deposit, stamp duty, fees, etc. However I would like to only spend £34,000 on deposit (90% LTV)
Credit History:
- Good credit history, no adverse
- Experian score of 979/999 ("Excellent")
- No current credit cards, but have an Amex charge card.
- Only loan is a personal loan used for part of the balance of two cars, outstanding balance £23,000, repayments £422 per month.
Ideal mortgage:
- Repayment, fixed rate for at least five years, under 4.9%. Looking to pay not much more than £1700 a month.
Would be interested in any tips. Particularly around income - is income from shares taken into account? Does it complicate matters, and should I just leave this component of income completely out of any applications, as I think the multiplier is low enough without this anyway.
Other question is - I'm currently a Barclays Premier customer. Some banks offer better deals in conjunction with their premier account. Does anyone have experience of this? Should I be approaching banks to discuss moving my current account + other accounts into their premier scheme as part of a mortgage application?
many thanks in advance.
R.
I am currently buying our first house, having rented for the last 12 years. I believe we are in a relatively strong financial position, but would be interested in any advice/tips on how to make the most of this.
We have had an offer accepted on a house at the weekend for £340,000 (Freehold, not new build, detached).
Current position is:
Income: ~£175,000, consisting of:
- Salary: £103,200
- Annual Contractual Bonus: £37,600
- Income from Share Options: ~£35,000
Deposit:
- £65,000 available cash (from savings + parental gift), for deposit, stamp duty, fees, etc. However I would like to only spend £34,000 on deposit (90% LTV)
Credit History:
- Good credit history, no adverse
- Experian score of 979/999 ("Excellent")
- No current credit cards, but have an Amex charge card.
- Only loan is a personal loan used for part of the balance of two cars, outstanding balance £23,000, repayments £422 per month.
Ideal mortgage:
- Repayment, fixed rate for at least five years, under 4.9%. Looking to pay not much more than £1700 a month.
Would be interested in any tips. Particularly around income - is income from shares taken into account? Does it complicate matters, and should I just leave this component of income completely out of any applications, as I think the multiplier is low enough without this anyway.
Other question is - I'm currently a Barclays Premier customer. Some banks offer better deals in conjunction with their premier account. Does anyone have experience of this? Should I be approaching banks to discuss moving my current account + other accounts into their premier scheme as part of a mortgage application?
many thanks in advance.
R.