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150k Mortgage Chance
Ladyduran
Posts: 6 Forumite
Hi can anyone give me a little advice please. We are selling our house and have seen one we like which is above our price range. We have 43k as deposit and would need to borrow 150K. The problem we have is that we have two children one of them being 21 months so i am only working part time at the moment but will be returning full time when little one starts school in a few years time.
We want to have a mortgage for 2 years interest only to enable us to be able to afford to move but we are not sure whether we will be able to borrow 150k because of our low earnings at present.
I work part time earning 5k per annum and hubby works full time earning between 22-24k per annum.
Does any one have any thoughts on our situation.
Thanks
We want to have a mortgage for 2 years interest only to enable us to be able to afford to move but we are not sure whether we will be able to borrow 150k because of our low earnings at present.
I work part time earning 5k per annum and hubby works full time earning between 22-24k per annum.
Does any one have any thoughts on our situation.
Thanks
0
Comments
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Do you have any other debts in the background?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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We have a loan (12K) but that will be paid within that mortgage amount we need and about £1300 credit card debt.0
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As long as you have no outstanding debts there may be a few lenders that could look at this for you, but the rates will not be the cheapest.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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