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130k mortgage
MrChandlerBing
Posts: 131 Forumite
Hi,
Just looking for some opinions. Is it likely to be possible for me and my partner to be able to get a mortgage of that value? We have up to 20k to put down for a deposit.
We are mainly looking at houses of around the 145k point.
I earn 19k and she is on 16k. Both have clean credit, probably 2k on credit cards between us that we pay monthly. We are first time buyers.
Just looking for some opinions. Is it likely to be possible for me and my partner to be able to get a mortgage of that value? We have up to 20k to put down for a deposit.
We are mainly looking at houses of around the 145k point.
I earn 19k and she is on 16k. Both have clean credit, probably 2k on credit cards between us that we pay monthly. We are first time buyers.
0
Comments
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Affordability wise yes.
Deposit wise yes for a 90% mortgage, its better if you can get to 85% but you should still be ok even if not.
If your credit files are ok then thats fine.I am a Mortgage AdviserYou 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 -
At the moment then yes. Will you be able to pay it if rates reach 10%? Try a mortgage calculator to see what your monthly repayments would be on some 90%LTV deals out there at the moment.MFW - <£90kAll other debts cleared thanks to the knowledge gained from this wonderful website and its users!0
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10% would push us to our current limits big time, but as we are both young graduates we would both expect to be earning more when the rates come
Back up
Should be ok then0 -
Id be VERY surprised if rates hit 10% anytime in the next decade. im expecting rises, dont get me wrong - but to the 7-8% level. After the next 10 years quite possibly, but were in for low(ish) rates for the forseable future.
that said - no-one saw the 0.5% base rate comming either so ????0
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