My husband and I got married last July and were getting ourselves together for a mortgage application when the business he worked for went into receivership, and my contract work ran out. I will now be switching from contract employee to a self employed contractor on April 1st, and husband is currently unemployed. We are both looking for work at the moment but my sector (research) is not hiring many people right now and I need to figure out how to get onto a more secure footing. He is also trying to move out of his sector (hospitality) to something local with more social hours.
We have 70k in cash savings just sitting in bank accounts. I will also be getting access to another 30K in the company pension (it wont be efficient to leave it where it is as charges are high). I have another 20k or so (!) worth of shares.
We have a site from my parents and have commenced the design process but it will probably be a year before we get it through planning.
We hope to build a small but quality built house for a budget of around 200k. Is there any chance we will ever get a mortgage for 130k? We have no loans.
What can I do with the 30k from pension. I would like to reinvest in a pension fund but not sure how to do that or whether there will be tax implications. Otherwise I could put it towards the house.
We have 70k in cash savings just sitting in bank accounts. I will also be getting access to another 30K in the company pension (it wont be efficient to leave it where it is as charges are high). I have another 20k or so (!) worth of shares.
We have a site from my parents and have commenced the design process but it will probably be a year before we get it through planning.
We hope to build a small but quality built house for a budget of around 200k. Is there any chance we will ever get a mortgage for 130k? We have no loans.
What can I do with the 30k from pension. I would like to reinvest in a pension fund but not sure how to do that or whether there will be tax implications. Otherwise I could put it towards the house.
