Me and my girlfriend want to apply for a mortgage before the stamp duty exemption ends on 31 March 2021.
She is a nurse for NHS and earn £27.4k + overtime of about £12k
I myself have two jobs, one part-time job as a nurse earning on average £10k p.a. and I had started a full time job from october 2020 at £25k per year.
We have deposit totalling £25k+£14k and the house we want to buy is £230k
I also just find out I myself had a ccj and the ccj was to do a PCN Ticket but I have now paid it and satisfied it 3 weeks ago.
I wanted to know if the CCJ will be an issue when applying for mortgage even when satisfied.
Also needed to know if we can get a mortgage with only 10% deposit (max we can go is 15% deposit) as we need to have some money left to buy furniture for the house we want to buy. Most importantly I wanted to know the amount I can get as mortgage.
Thank you in anticipation for your help.
Whilst you are looking to buy in volatile times, what you are doing should be achievable subject to the absolute detail.
You will need a lender that will allow for a combination of your CCJ on file, use of overtime, use of income from 2 jobs especially given one of those jobs was only started last month.
You are almost certainly going to require 15% deposit, although affordability for a purchase price of £230k is likely to be achievable.
Given the variables here it would make sense to obtain your credit files and have a discussion with an experienced broker. As always, the results you could achieve will come down to the finer details..
If I go through a broker is there any fees?
Fees will always be transparent on websites and you will receive confirmation from any regulated broker at enquiry point, confirming what fees would be due when
Typically there will be brokers who don't charge a fee and those that do. Given the complexity of your case you are likely to need an experienced/specialist broker and these often are fee charging brokers.
As a fee charging broker ourselves, we would often reference you get what you pay for as experience differs significantly in this industry.
What will be the broker fee
Broker fees vary, our broker fee would be £1,995 but importantly only payable once we have confirmed and delivered a formal mortgage offer
I also forgot to say I’m paying a car Hp at £312 per month
What mortgage amount will I get
Most likely will appoint your company
You would need to get your case fully assessed, but you are certainly in the right zone for what you were looking to buy at.