Housing buying fees and help

MasterBell_2

Hello and thanks for reading my thread,

I am looking at a house at the moment,
£57500 for 50% 2 bed semi,

They buyer is giving a 5% deposit and we will be contributing another 5%
what are we likely to be repaying as a mortgage if one would still be able to get one at that ratio

our joint income is 35k

i have a 5k car loan that is for 200pm,

also,
do you think the buyer would accept offers below this price even though he is giving a gifted deposit,


and what kind of offer would be acceptable given the market

also how much should i factor for mortgage fees etc, bear in mind this is on a tight budget

as i have a nipper on the way

bob79

Go to
http://www.moneymadeclear.fsa.gov.uk/
click on 'compare mortgages' and fill in the details. I filled in the information that you gave as best as I could and on a 25 year repayment mortgage it gave 299 to 382 pounds a month as mortgage payment (depending on the mortgage lender and the product).

The mortgage product fee can be added to the mortgage. The valuation fee has to be paid upfront, the amount depends on the lender (you can find it through the above website): something like 200-300 pounds. A solicitor will probably cost you somewhere around 600 pounds. So you will probably need just short of 1000 pounds in cash to set everything up.

CLS26

Bob that FSA tool is great, thanks!!!

Clara