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General Mortgage Advice for First Time Buyer

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Comments

  • poppysarah
    poppysarah Posts: 11,522 Forumite
    LEEFTB: you mean you could buy a house for 105k on a salary of 17.7k?
  • tomstickland
    tomstickland Posts: 19,538 Forumite
    10,000 Posts Combo Breaker
    Could you not buy the house for £60K and have some sort of agreement to pay the other amount over time?
    Happy chappy
  • LEEFTB
    LEEFTB Posts: 18 Forumite
    poppysarah wrote: »
    LEEFTB: you mean you could buy a house for 105k on a salary of 17.7k?

    I have been offered upto £80,000 in principle yes after speaking to two financial advisors. I have my own savings of £25,000 and as it happens a family member has offered to lend me a substantial amount to put to my deposit so the amount of my mortgage will be around the £50,000. I am fortunate to be in this position and will be renting a room to a workmate and will use this money to pay back my relative. Without this assistance I would not be able to afford my own place without any doubt.
  • waltermcculloch
    waltermcculloch Posts: 99 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Even though ideally I would love to be able to buy it, not sure it's a goer.

    Thanks for all the comments though
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