We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
How much can we borrow?
kkgree1
Posts: 328 Forumite
I'm getting different view points from different people as to how much we would be able to borrow. I've used a lot of the mortgage calculators and they all vary enormously.
Husband basic salary = £25600
Husband commission = £25000
My salary = £20005
We would ideally like to borrow £160k on a 200k house, putting down a 40k deposit.
My husband's commission for 07/08 is provable from his P60. He estimates his commission for 08/09 will be 34000.
We are not FTB as I have a property to sell. The Council have already said they would buy my property back (as it's shared equity I have to give them first option to buy) so a sale should be relatively straightforward.
With prices falling we're keen to move in the 12 - 18 months.
Husband basic salary = £25600
Husband commission = £25000
My salary = £20005
We would ideally like to borrow £160k on a 200k house, putting down a 40k deposit.
My husband's commission for 07/08 is provable from his P60. He estimates his commission for 08/09 will be 34000.
We are not FTB as I have a property to sell. The Council have already said they would buy my property back (as it's shared equity I have to give them first option to buy) so a sale should be relatively straightforward.
With prices falling we're keen to move in the 12 - 18 months.
Mortgage free wannabe
Mortgage (November 2010) £135,850
Mortgage (November 2020) £4,784
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards