Hi ,
I have booked a new house in new estate (Owner Occupier FTB) and presently I am in the process of putting a deposit on a house . I have been saving like a mofo and being very frugal for the deposit and so far have 9% closing in on 10% (3 weeks) for the last 15 months .
At the same time I have been able to save on the side for a car which was a requirement as my old car has failed for work . I purchased the car straight up with no finance and made a 10% saving. I still have my 9% remaining after the purchase how ever my current account is low now due to this purchase. At present I do not have any bad credit or outstanding debts .
Will this impact my mortgage application or show that I have the ability to save . I have to give my Broker the latest details . My main concern is that I am hoping that this spend doesn't cost me the mortgage.
On top of that the building contractor is now seeking the 10% deposit in the next 3-4 weeks .
Thank you for any assistance
I have booked a new house in new estate (Owner Occupier FTB) and presently I am in the process of putting a deposit on a house . I have been saving like a mofo and being very frugal for the deposit and so far have 9% closing in on 10% (3 weeks) for the last 15 months .
At the same time I have been able to save on the side for a car which was a requirement as my old car has failed for work . I purchased the car straight up with no finance and made a 10% saving. I still have my 9% remaining after the purchase how ever my current account is low now due to this purchase. At present I do not have any bad credit or outstanding debts .
Will this impact my mortgage application or show that I have the ability to save . I have to give my Broker the latest details . My main concern is that I am hoping that this spend doesn't cost me the mortgage.
On top of that the building contractor is now seeking the 10% deposit in the next 3-4 weeks .
Thank you for any assistance