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Corsa Sport » Message Board » Off Day » House Day » First Time Buyer Advice » Post Reply
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Andrew |
posted on 2nd Nov 14 at 01:21 |
quote: Some companies do it on x amount, others on affordability. | |
Ben G |
posted on 1st Nov 14 at 22:41 |
But how do they know what bills you'll be paying if you're a first time buyer? We didn't rent. We went straight from living with my parents to a mortgage, so they wouldn't have known anything. | |
richardworrall |
posted on 1st Nov 14 at 22:33 |
not when they go through it with a fine tooth comb i doubt it. | |
Ben G |
posted on 1st Nov 14 at 20:41 |
Can you not manipulate the figures though? | |
Ian W |
posted on 1st Nov 14 at 20:13 |
quote: I had one in place with old rules, that fell through and I had to go through the full application again for the place I ended up buying, my affordability dropped 25k too | |
richardworrall |
posted on 1st Nov 14 at 20:03 |
yeah, luckily we missed this affordability interview by a matter of days!! | |
MarkM |
posted on 1st Nov 14 at 19:58 |
It's based on affordability now i.e. what you are left with each month after paying your bills/outgoings. Not necessarily x times your salary. | |
richardworrall |
posted on 1st Nov 14 at 19:58 |
Had been renting and wanted mortgage payments to be the same so went to bank to check affordability figures and find what price house we could comfortably afford. Found house, searched for best rates on moneysupermarket etc. All came back with Post Office best for our needs. Filled in their online forms, put offer in and got accepted. Found a local solicitor who was cheap and really good. | |
Ian W |
posted on 1st Nov 14 at 19:19 |
Pretty much the same as Ben but I went with Nationwide (already had a mortgage savings account with them). | |
Ben G |
posted on 1st Nov 14 at 19:11 |
We went into Halifax and sat down with a mortgage advisor. | |
Gareth T |
posted on 1st Nov 14 at 17:39 |
I would like to buy in the future and have looked online and also spoken to people who have bought and banks regarding mortgages. |