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Mortgage Multiples
pollyanna24
Posts: 4,391 Forumite
I know this has been bandied around for ages now, but ... if your joint income with partner was £56K, what the most mortgage you would take out? 
Pink Sproglettes born 2008 and 2010
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.81
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.81
0
Comments
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Depends on if you have any debts, children etc. DO you have more details?I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
No debts (well only what's in sig), and no children. Just a bit scared now that rates are gone up. We've already taken the mortgage £185K fixed for two years until April 2008, just wondered if at x3.3 our joint income, it was a silly amount.Pink Sproglettes born 2008 and 2010
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.810 -
Personally I would take the lowest persons salary out of the two, add a minimum wage salary (incase the other lost their job and had to take anything) and then work out what you could afford each month. Adjust accordingly for any savings.
If you both earn a similar amount 28k(or 25k/31k etc) each then your probably fine.0
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