We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
First time buyer - should I jump in ASAP?
Options
gabitzul
Posts: 299 Forumite
Hi,
We have been thinking about getting a house of our own for about a year now and have managed to save about 15k for a deposit.
Now, my wife is 3 months pregnant and without her (fairly modest) salary we will not be able to get a sufficient mortgage; however at this moment in time we have been offered up to 148k which should cover our needs.
We are looking for a 2 bed house or flat in the Reading area and we have 10% deposit.
What would it be your advice, to go for a mortgage ASAP before she goes on maternity leave (and get a 4.7% ish mortgage) or wait until next year, save a bit more (don't know how easy that will be, with a third member of the family) and go for a hopefully better mortgage?
Many thanks for any thoughts in advance.
We have been thinking about getting a house of our own for about a year now and have managed to save about 15k for a deposit.
Now, my wife is 3 months pregnant and without her (fairly modest) salary we will not be able to get a sufficient mortgage; however at this moment in time we have been offered up to 148k which should cover our needs.
We are looking for a 2 bed house or flat in the Reading area and we have 10% deposit.
What would it be your advice, to go for a mortgage ASAP before she goes on maternity leave (and get a 4.7% ish mortgage) or wait until next year, save a bit more (don't know how easy that will be, with a third member of the family) and go for a hopefully better mortgage?
Many thanks for any thoughts in advance.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.7K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards