Nice mortgage calculator

ad9898_3

Joeskeppi wrote: »

Everyone was complaining about 90%-100% mortgages, now you find out you need a decent desposit and you still complain

If any of you live with parents then a massive desposit should really be no trouble at all.

I agree, I think 80% deposit is fine. The fact that they have reduced this from 85% says quite a bit about what they think will happen to the market and how much funding there is to go around now that the RMBS market is closed. It matches my feelings that mortgage approvals only rise on the back of reduced prices.

I think for us to get to the average of 80,000 a month again in the next 4-5 years will require another 20% + in falls.

System

Bizarrely, I can only get the calculator to work if I use the accessible version (work + flash = nono) and it says I can borrow £150,000 with a £30,000 salary.

http://www.woolwich.co.uk/index-accessible.html

And it changes to woolwich??

Graham_Devon

Well this one blew up. Accusations flying around here. Chucky, I only asked you to do the calculation, bu tyou wouldnt, so did it myself.

Anyway, thought this may be a good time to...

chucky

Graham_Devon wrote: »

No one is saying that in this thread. On the contrary, I have looked at STARTER homes, and still way off on 30k wage.

maybe you should get yourself a better paid job or even re-train in something that pays better.

if that doesn't work maybe move to another area that will be in your budget for that starter home

Pee

If i was living with my parents, you are right, I could be saving over £1000 a month and could have the deposit saved in a few years... No wonder some parents would rather help out with a hefty loan.

Graham_Devon

Joeskeppi wrote: »

Bizarrely, I can only get the calculator to work if I use the accessible version (work + flash = nono) and it says I can borrow £150,000 with a £30,000 salary.

http://www.woolwich.co.uk/index-accessible.html

And it changes to woolwich??

Yer we all could, apart from you would need a £38,000 deposit.

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Joeskeppi wrote: »

Bizarrely, I can only get the calculator to work if I use the accessible version (work + flash = nono) and it says I can borrow £150,000 with a £30,000 salary.

http://www.woolwich.co.uk/index-accessible.html

And it changes to woolwich??

And you need 38k deposit, and your mortgage payments over 25 years would be around a 1k per month, thats quite a lot of money for a 30k wage, and IR's only going one way............ definitely risky.

Yakubu22

Chucky and Toast, encore ! I love this...

Graham_Devon

chucky wrote: »

maybe you should get yourself a better paid job or even re-train in something that pays better.

if that doesn't work maybe move to another area that will be in your budget for that starter home

Hehe, nice try, back to that little line.

Doing well chucky, I see you REALLY don't like the truth in this thread either.

System

ad9898 wrote: »

And you need 38k deposit, and your mortgage payments over 25 years would be around a 1k per month, thats quite a lot of money for a 30k wage, and IR's only going one way............ definitely risky.

Totally agree, perhaps I misread some earlier posts saying barclays were doing sensible lending