First Time Buyer!!!!HELP!!!

CityWalk_2

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?

jamief

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 deposit

AndrewSmith

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.