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First Time Buyer!!!!HELP!!!
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CityWalk_2
Posts: 172 Forumite
Hi,
I am a first time buyer. My partner and I earn over £22000 a year between us. We want a 100% mortage but we want to put all are debt into the mortage aprox £13000. Can we do this. And has anyone any idea what amount of mortage we would be likely to be offered?
I am a first time buyer. My partner and I earn over £22000 a year between us. We want a 100% mortage but we want to put all are debt into the mortage aprox £13000. Can we do this. And has anyone any idea what amount of mortage we would be likely to be offered?
0
Comments
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To put your debt "into" the mortgage, you would probably need a 125% mortgage, which imo is a very bad idea. Why not concentrate on either
a) Paying off your debt (or at least some of it)
or
b) saving up a deposit0 -
Clear or reduce the debt first rather than sticking it into a 25 year mortgage.
Without the debt you will be looking at approx £80-90,000 max (sensible) borrowing.
This is just a very rough guide though as I do not know the specifics.0
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