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Unlocking equity, Will this work?

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Comments

  • iamana1ias
    iamana1ias Posts: 3,777 Forumite
    Yes, but to give accurate advice we need information!
    I was born too late, into a world that doesn't care
    Oh I wish I was a punk rocker with flowers in my hair
  • Incyder
    Incyder Posts: 2,016 Forumite
    I agree, whats your take home wage per month, what other debts do u have such as loans and credit cards ?
  • blackrandomapple
    blackrandomapple Posts: 35 Forumite
    Incyder wrote: »
    I agree, whats your take home wage per month, what other debts do u have such as loans and credit cards ?

    My gross is about £2600-£2700pcm

    Take home £1900-£2000
  • iamana1ias
    iamana1ias Posts: 3,777 Forumite
    blackrandomapple wrote: »
    My gross is about £2600-£2700pcm

    Take home £1900-£2000

    You've no chance. Sorry.

    How do you blow £2k a month?
    I was born too late, into a world that doesn't care
    Oh I wish I was a punk rocker with flowers in my hair
  • Caz3121
    Caz3121 Posts: 15,912 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Are you still self employed? you were looking at buying over 18 months ago and advised you would need a deposit then...how have you been unable to save?
  • hcb42
    hcb42 Posts: 5,962 Forumite
    saving is the only way on that income, don't risk Mum's house as well..
  • Incyder
    Incyder Posts: 2,016 Forumite
    Well you have a fair income.
    Try and save 1k or more, per month, for 26 months for a nice deposit.
    I would guess that house prices will drop furthur, as you are saving too.
    Living on the remaining £900 per month is easy.
  • taehc
    taehc Posts: 18 Forumite
    I take it that you take home includes o/t? I am on £27500 and my take home is £1550 after student loans and pension. Unless you are willing to look at a smaller mortgage or pay the extra £250 I wouldn't risk your mums house. Have you saved any deposit yet? If not, or not enough can you stay with your mum and save, if you have no debt and cut your cloth tight then you could save a healthy deposit really quickly and you wouldn't be trying to pay your own mortgage pls some of your mums. Good luck.
  • the.ciscokid
    the.ciscokid Posts: 273 Forumite
    blackrandomapple wrote: »
    My gross is about £2600-£2700pcm

    Take home £1900-£2000

    You need to man up and save, rather than running to mum.
This discussion has been closed.
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