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FTB.....What are your thoughts?
OMAR
Posts: 701 Forumite
Hi,
If I want to buy something approx 125k or under, whats a realistic amount I need for deposit, furnishing, charges etc......to be comfortable. Earn approx 40-45k.
If I want to buy something approx 125k or under, whats a realistic amount I need for deposit, furnishing, charges etc......to be comfortable. Earn approx 40-45k.
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Comments
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Min 10% deposit approx 1k max for solicitor fees, mortgage fees eg valuation, arrangement fees (some may be able to be added to mortgage) but I would guess min of 15k and even that would leave you tight0
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25% deposit for a decent interest rate. How big is the place you are looking to buy?Anna :beer:0
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Its going to be my first property (with parents at min) so will defo be only 125k MAX!.....so you'd say £20k for deposit, fees and furnishings......comfortably0
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When I go to buy it has to be with a 25% deposit as it makes such a difference to the rate you get. On top of that I am keeping back £5K for fees and furniture.
So you should be looking at £31,250 deposit.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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hmmm interesting0
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Dunno, but I would make sure that I have at least 6 months worth of savings to fall back on.0
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I'd go for 20% deposit if you don't want a very expensive mortgage.
I'm hopefully going to become a FTB this year and I'm looking at something in the 120k-150k range. I've got £30k deposit and about £5k to cover other fees, although given the Stamp Duty Exemptions for FTBs I'm hoping the buying costs will be a couple of grand at most.0 -
I tihnk at 125K with a salary of 40-45K you'll be fine regardless of your deposit ...Deposit for FTB: £81,000 ... and counting0
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