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First time buyer- Help

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  • ericax
    ericax Posts: 17 Forumite
    OK if we can afford the monthly repayments?
  • pjread
    pjread Posts: 1,106 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Go talk to a whole of market broker, but don't get your hopes up and do not commit to a mortgage you cannot afford (as in 5-7yrs time I'll be amazed if you're not paying significantly more in interest)

    wish I could get a house for 130k, what's the rail link to London like? :)
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    ericax wrote: »
    OK if we can afford the monthly repayments?

    But you've already said you can't - why would you want to put yourself in such a position?
  • I have been looking at houses around the same price and with a 10% deposit your repayments on the mortgage are likely to be between 700 and 800 a month. Plus all the additional costs such as decorating, building insurance, etc.
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