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FTB- advice needed on deposit.
Briantmair
Posts: 7 Forumite
I am looking to buy my first place by myself after a relationship breakdown and want to start looking in April. I will have an approx deposit of £4000 and an income of 20k gross plus around 2k from a second job.
What I want to know is roughly if I can afford a property for around 80k after considering all the searches, mortgage arrangement fees etc. I have been through all this before but had a good deposit last time and was buying with someone else.
or, in your esteemed positions, shall i just forget about buying for now until i want to move in with someone else?
I can rent somewhere without the stress and kit it out very nicely for the price of a mortgage fee and resultant deposits.
Was thinking about shared equity but after reading some stories on here am now against it.
any input gratefully received :-)
What I want to know is roughly if I can afford a property for around 80k after considering all the searches, mortgage arrangement fees etc. I have been through all this before but had a good deposit last time and was buying with someone else.
or, in your esteemed positions, shall i just forget about buying for now until i want to move in with someone else?
I can rent somewhere without the stress and kit it out very nicely for the price of a mortgage fee and resultant deposits.
Was thinking about shared equity but after reading some stories on here am now against it.
any input gratefully received :-)
0
Comments
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Think the minimum deposit required at the moment is 10% This may of course change by april but I doubt it.
I would say rent and build up your deposit is ypour only option at the momentMF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/2000
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Why not rent a cheaper place for 12 months and save like mad and build up your deposit.
A £80k property with say £10k deposit means a £70k mortgage or 3 1/2X income !0 -
Yeah I think renting is the way forward at present! thanks everyone!0
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[QUOTE=Chatsworth Klein
Shouldn't you have a signature?0
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