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Why can i not get a mortgage???
Comments
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I belive i have worked out that at a rate of 3.9% on a mortgage of £150,000 over 30 years wold be £707 per month. close to £100 per month cheaper.
A rate of 3.9% is nearly half the long term average. So, whilst its only £100pm cheaper now, how much is it going to cost you when you get closer to the average rate?
You really have to be able to afford double the current mortgage payments and a saving of £100 now isnt much.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
As someone mentioned above some banks like Santander/Natwest offer 5x salary with affordable monthly payments, maybe ring up a broker like charcoal and ask what most they will lend you, or get quotes from 4/5 banks?
Most important thing is what your salary is and the deposit you currently have, if you earning 17.5k then borrowing 75k seems reasonable however if your earning 20k+ from recent personal experience you will get alot more elsewhere.0
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