Advice Please

richie_greenuk

Hello

First time here so apologies if I ramble!

We have recently had a wonderful baby and our house is now too small so are looking to move. We have a 2 bed 3 year old property with a mortgage of £91000 outstanding - I think it is worth around £103000 in todays market.
We are looking at purchasing a new house valued at £139000. Our income is £16500 from work and around £5000 from my own business and my partner is on £17500.
We presently have a loan at £14000 (£304 per month) which will be settled with the equity and other than this, we have no other borrowings.

Basically, is £139000 an achievable mortgage and if so, whom can we get it through as it would need to be something like 4 times?

Thanks in advance

herbiesjp

Congratulations on your new arrival!

You'll never have enouugh room trust me, the more room you have, the stuff you find to put in it!

If your equity is clearing the loan, do you have any other money to put down as a deposit?

richie_greenuk

Hi

Thanks for the reply - the equity will clear the loan.
I will have funds for a deposit through the sale of one of my businesses - my main concern is that we will be able to get the mortgage at £139000. I dont want to set our heart on it for it to not be achievable

herbiesjp

Is £139k the actual house value or the mortgage amount needed?

£139k on both your incomes should be fine

HTH

richie_greenuk

Thanks - the £139 is the mortgage.

Many thanks for your help