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Help needed for 1st time buyer
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lucylou747
Posts: 1 Newbie
Hi,
I am looking to buy a house, but it's all a bit scary. While I have a little to play with in terms of budget I'm scared if this goes up too much it will all too soon become unaffordable. So do you go for a fixed rate and pay more for the short term but benefit in the long term?
I think I have factored in all my expenditure and have about £250 left a month, with £100 overpayment on mortgage repayments. It doesn't feel like much to play with to me.
Any help and advice would be appreciated as much as I read things the more difficult it all seems to get.
I am looking to buy a house, but it's all a bit scary. While I have a little to play with in terms of budget I'm scared if this goes up too much it will all too soon become unaffordable. So do you go for a fixed rate and pay more for the short term but benefit in the long term?
I think I have factored in all my expenditure and have about £250 left a month, with £100 overpayment on mortgage repayments. It doesn't feel like much to play with to me.
Any help and advice would be appreciated as much as I read things the more difficult it all seems to get.
0
Comments
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What's your salary? Do you have any debts? £250 a month is not a lot, factoring in some house problems means that you may struggle, such as a boiler breaking could cost several thousand pounds...Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370 -
Are you looking at interest only mortgages?0
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