First Time Buyer and Mortages
I know this is not relevant to IT in anyway and admin remove me if im making a mockery of a sham...
But, Im about to move into a flat which i will be living in for 12 months before buying it. Its a relatives flat and he is just glad for someone to be living there keeping the place safe and in good order etc..I'll just be paying the bills each month and thats about it.
After 12 months I will be buying the flat, the 12 months will give me time to save a decent deposit hopefully 10% of the value.
But as a first time buyer in 12 months time do you think i will have trouble getting a mortage. I know 12 months is a long time and this can all change in that time but any opinions or information appreciated. The martage would be no more than 3.5 times my wages at present.