We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Advice on going higher with an offer than i have a mortgage for?
Comments
-
overandout wrote: »Yes it does matter on the maximum amount you can borrow. £50k deposit on at £200k house would be you have a 25% deposit.
By increasing it to £55k deposit and retaining a 25% margin, you can get a house that is worth £220k.
Before I forget, it is also dependant on your salary....dependant on the ratio of the mortgage against your salary. Banks are currently lending around 3 to 4 times your annual salary.
But as G_M says, it is what you can afford to pay in terms of the monthly repayment.....calculate all your expenses and make an informed decision
Ok i am not really interested in increasing my £150k borrowed so am i right that it does not matter if i add £5k to my deposit?0 -
No, it doesn't matter.....0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards