Hi
I am currently on a basic of 63175 with 2k a year bonus and Over time average of 8k. My partner is on 30k. We own an apartment worth 180k but owe 286k on it but we are on a tracker.
Current mortgage = 1050 month
Current savings = 33k
Saving monthly of 1500
2 kids, married and early 30's.
We are looking to keep apartment and have mortgage approval which is up this month and are applying again and hoping to get an exception so we can put forward a lower deposit.
We are looking at house price of 340k
My approval to date took 50% of my over time in to account when applying the 3.5 times your salary. But we still we to get 61k for deposit with is 18%.
Does any one know if we qualify for get a lower rate of deposit taken in to account the banks will bend one of the two central bank rules only( 3.5 times salary or lower deposit)
Parents have agreed to help out but we are looking to do it on our own backs once we can get a 10-15 deposit or so.
Thanks
I am currently on a basic of 63175 with 2k a year bonus and Over time average of 8k. My partner is on 30k. We own an apartment worth 180k but owe 286k on it but we are on a tracker.
Current mortgage = 1050 month
Current savings = 33k
Saving monthly of 1500
2 kids, married and early 30's.
We are looking to keep apartment and have mortgage approval which is up this month and are applying again and hoping to get an exception so we can put forward a lower deposit.
We are looking at house price of 340k
My approval to date took 50% of my over time in to account when applying the 3.5 times your salary. But we still we to get 61k for deposit with is 18%.
Does any one know if we qualify for get a lower rate of deposit taken in to account the banks will bend one of the two central bank rules only( 3.5 times salary or lower deposit)
Parents have agreed to help out but we are looking to do it on our own backs once we can get a 10-15 deposit or so.
Thanks