Property News · November 21, 2012

Will a £19,000 debt stop us from getting a mortgage?


Q My fiancee and I have a combined gross income of £63,000 with about £17,000 in savings, which are predominantly in her name. Unfortunately, what with student loans and buying a car I have accumulated unsecured personal debt of about £19,000, which is likely to take me three to four years to pay off.In a year or so we are looking to buy a property together for about £160,000. Will my personal debt prevent us from being offered a mortgage? Additionally, we will be getting married in 18 months – would it be easier to get a joint mortgage if we’re actually married rather than simply engaged? ST Continue reading…

Source : theguardian.com
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