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FTB - Mortgage Amounts?!
danielle21_2
Posts: 89 Forumite
Hi
Just wondering what mortgage amounts FTB's are committing to. Me & my partner earn around £2,500 a month (partner can earn more in bonus) & have just taken a £138K mortgage over 40yrs. This amounts to £680 pm + with all other bills including car loan & insurance it amounts to £1,650ish. Which means we have around £850 to buy food & live - which seems fine & like we'l manage.
Our mortgage is fixed for 2 yrs & were gonna lower the term from 40yrs to 30yrs when the term ends.
I look forward to hearing your views.
Thanks
Just wondering what mortgage amounts FTB's are committing to. Me & my partner earn around £2,500 a month (partner can earn more in bonus) & have just taken a £138K mortgage over 40yrs. This amounts to £680 pm + with all other bills including car loan & insurance it amounts to £1,650ish. Which means we have around £850 to buy food & live - which seems fine & like we'l manage.
Our mortgage is fixed for 2 yrs & were gonna lower the term from 40yrs to 30yrs when the term ends.
I look forward to hearing your views.
Thanks
Danielle -x-:p
0
Comments
-
The mortgage I have just arranged for myself also a FTB. £110,000 over 30 years with monthly repayment of £638, capped at this for the first 5 years.
Not the best deal, but it seems the only one I could get. With all the other bills on top (about £250 a month I reckon) I should have about £600 a month to live on. God, I am gonna have to cut back on alcohol.0 -
Hi Barmybubba
Are you buying alone or joint?
Your interest rate seems as tho its same as mine (5.19%)?Danielle -x-:p0 -
Buying on my own. Interest rate for first 5 years is 5.75% which then goes up to 6.5%.0
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