So frustrated! Dh and I have worked very hard and been very diligent in overpaying every penny into out current mortgage, which we have now paid off completely (I am 35, DH 41).
We have 2 DCs, DH is currently F/T carer for them, I work F/T. I am self employed (author) as wel as working F/T, book being published next yr, likely to make 6-12K from it.
We want to move house, have a 90K deposit. Not selling the current house, plan to rent. Have contacted 2 rental companies, have in writing we will make 800-900 pcm from renting.
Mortgage company won't take into account that we have paid our current mortgage off so early, or that I have extra income (only made 2K self-employed last year), or the rental income (have to have prrof of at least 1 month rental.
As a result, we are offered the same mortgage as a first-time buyer who has a job same as mine. So we are able to buy a house that costs same as this one (200-250K) but can't move up, despite our hard work, and despite the fact we can afford more than that.
Aaaargh.
ps (I know I am fortunate to have a roof over my head, especially one I own but still aaargh).