FTB advice - How much can I borrow?

mysteronz

I was looking for some advice on a subject at this point I know little about...

I am looking to purchase a flat in the summer of 2011 for around 120,000 and I will have at that point 30,000 deposit. I would like to get a 10 year fixed rate mortgage over 25 years but my query is regarding how much I can borrow. I earn a modest salary of £20,000, do you think Mortgage lenders will allow me to borrow 90,000 and how attractive or unattractive will I be to them?

My only debts are my student loan.

Views appreciated...

GMS

Impossible to say what will be available in summer 2011.

At present you may struggle to raise 90k on a 20k salary.

If you are not looking to buy yet you may be better concentrating in saving and ignore mortgages for now.

If anybody tells you what you will be able to get next year be sure to ask them for the lottery numbers for next Saturday too!!! Crystal ball required for predictions of the mortgage market!