Getting a reasonable sized mortgage when not earning much

Wutang_2

Although if you have a 140k deposit, why not buy a little place outright?

And in the next few years your other half can find a job that pays more

Hopejack

Wow £200 pcm for 4 is great. We probably spend £400 pcm on the four of us! It's one area I'd love to cut back on but I'm rubbish at doing it. As for less than £200 pcm for 4, I'd love to know what you are going to eat Kaida. I find eating healthily (which we do try and do as much as poss) is v v expensive - fruit/veg and quality meat and fish is so expensive these days! I used to buy a lot of organic and had to cut right back - it was just too expensive, now we just do certain organic like dairy and some meats as and when I can justify it!

ETA - Agree that salaries are going nowhere right now - or v little increase, unless of course your DH is say a trainee and you know his salary will increase considerably once qualified or something?

LilacPixie

Hopejack- I manage on about £220 a month at the moment but that is only possible by eating fruit/veg in season, baking lots, Bulk/batch cooking etc. I hope to get it down to under the £200 mark once kids are both fully dry and no longer need nappies/wipes. I must easily be £30 a month on nappies alone. My two are fruit and milk fiends. Monkeys. Oldstyle board helps alot. You should read Weezls thread about feeding a family healthily for 50p a day.

£50 a month for food and toiletries for 2 adults. I would LOVE to see your meal plan.

SUESMITH_2

Kaida wrote: »

As an aside - £200 a month on food for 4 people, two of them tiny kids?! Don't be daft. I spend £50 atm, for two adults. I do know how much kids cost, I'm very involved with my parents and their finances (my Dad is appalling with money so my Mom has to cut back to make up the difference, and I help her) and they have three foster kids atm, 6, 7, and 8 years old.

ok, i too would love your secret of cheap feeding, the best i managed a few years ago was what you spend now and foods gone up.

i suppose your mum gets paid for the foster kids she has? maybe you should think about that as you're already at home? a good way to up your income?

when you have kids yourself come back on here and tell me to get real!

hermanmunster_3

Thinkng back over 20 years when we had a 69k mortgage on jt income of about 28-30k - the interest rate was 13% and I am sure we were paying about 1300 a month.
It was a bit steep and consequently I've never taken low interest rates for granted.
Income higher now and so is mortgage.... but that is nearly sorted, bottom line is that kids are seriously expensive - I would be enjoying very early retirment if I hadn't had them!! they are worth every penny though...;)

skiTTish

We earn nearly double what you do and have 2 kids and I certainly wouldn't want a larger mortgage than the one we have now ,we are repaying about £420 a month on an £80,000 mortgage.
Unless your joking about kids not affecting your outgoing then you are in for a real shock ,kids cost a fortune ,there is always something to pay !!