How to work out what houses to view based on mortgage?

milliebear00001

dimbo61 wrote: »

Things to take into account !
How much deposit do you have ?
LTV with your deposit 85% or better still 75% LTV
Dont forget fees and Stamp duty if not first time buyers.

We have around a 20-25% deposit and have the xtra saved for fees etc. We are technically not first time buyers, having owned a house several years ago.

I think I will hedge my bets a bit and see if I can get a top-end price house for a cheeky offer. The mortgage amount could end up a deal-breaker, but hey-ho. Won't know until I get there I guess, and once applied for, I'm guessing the mortgage offer would be transferable in the sense that the mortgage company would be prepared to lend that amount on a similar house?

xyellowx

with a 20-25% deposit and so long as no real bad credit history and your muliple wage is no more than x4 you should be easy on for a mortgage
you should even be able to shop about for a very good deal

best of luck

meds12_2

milliebear00001 wrote: »

We have around a 20-25% deposit and have the xtra saved for fees etc. We are technically not first time buyers, having owned a house several years ago.

I think I will hedge my bets a bit and see if I can get a top-end price house for a cheeky offer. The mortgage amount could end up a deal-breaker, but hey-ho. Won't know until I get there I guess, and once applied for, I'm guessing the mortgage offer would be transferable in the sense that the mortgage company would be prepared to lend that amount on a similar house?

You sound like you are in a good position. I'd go for the cheeky offers, if you don't try you will never know!
Good luck!