What is maximum we could get?

smcqis

My fiancee and i are first time buyers looking to get on the property market with a combined income of 38k and we were wondering what would be the maximum amount we could borrow realistically in your opinion? I have spoken to a whole of the market broker and she told me roughly but that was cou8ple months ago and cant remember and instead of ringing her (and although i know she wont mind) was just asking you guys

illmonkey

You wont get an exact without going through credit checks etc. But you can use calculators on mortgage lenders sites.

C&G say £190k, but as I say, that is dependant on credit checks, the deal and the LTV.

Wutang_2

smcqis wrote: »

My fiancee and i are first time buyers looking to get on the property market with a combined income of 38k and we were wondering what would be the maximum amount we could borrow realistically in your opinion? I have spoken to a whole of the market broker and she told me roughly but that was cou8ple months ago and cant remember and instead of ringing her (and although i know she wont mind) was just asking you guys

Aren't you the one who posed the question broker vs oneself or sommething along those lines??

Heres the answer:

broker

ginvzt

Calculate how much you can afford to pay on the mortgage each month and then calculate how much you can afford to borrow. Salary multiples do not work well, I think.

For example, C&G say that we could borrow £300k+, but I would never want to pay the monthly payment that comes with that!!!! (£1800+)

smcqis

Wutang wrote: »

Aren't you the one who posed the question broker vs oneself or sommething along those lines??

Heres the answer:

broker

And i went broker

VIGILANT22

Wutang wrote: »

Aren't you the one who posed the question broker vs oneself or sommething along those lines??

Heres the answer:

broker

and another couple of answers (answered by yourself!)


http://forums.moneysavingexpert.com/showthread.html?p=29446755&highlight=#post29446755

smcqis we would be looking at buying around the 170k
http://forums.moneysavingexpert.com/showthread.html?p=30504625&highlight=#post30504625
ismcqis im a first time buyer and looking at houses around 150-175

smcqis

VIGILANT22 wrote: »

and another couple of answers (answered by yourself!)


http://forums.moneysavingexpert.com/showthread.html?p=29446755&highlight=#post29446755

smcqis we would be looking at buying around the 170k
http://forums.moneysavingexpert.com/showthread.html?p=30504625&highlight=#post30504625
ismcqis im a first time buyer and looking at houses around 150-175

whats your point?? thats what i was looking around and nothing i like and was seeing how much i could borrow in total. i hope you arent this critical to everyone who comes on these forums. Just because you have more posts than anyone this makes u better or more clever?!

Sorry for asking!

VIGILANT22

I thot Wutang and I would have helped to jog your memory! Can't understand why you would be :mad: at reading your own posts??

happybroker

smcqis wrote: »

whats your point?? thats what i was looking around and nothing i like and was seeing how much i could borrow in total. i hope you arent this critical to everyone who comes on these forums. Just because you have more posts than anyone this makes u better or more clever?!

Sorry for asking!

Your broker would be glad to hear from you again, she probably think's ot gone off the boil so give her a bell.

It's difficult for us to say without know what your circusmtances are with regard to other debt, what type of mrotgage you are looking at or even what type of property you are looking at (Abbey for instance are currently limiting income multiples on new build!).