good deposit lowish wage best place for a mortgage

katiedog

Hi i have paid off my mortgage,house worth about 105,000. But will be looking to move in about two years time. I earn about 15,000 per annum and pay 150 per month maintance, im single, 42 yrs old and live alone. i would like to move to a house costing about 170,000 is it possible to get a mortgage for the difference and where would the best place be to get a mortgage?

I dont want to see a mortgage broker at the mo as im not ready to move but just want to plan ahead and no what my possibilities are.

ive got a good credit rating and no other problems, i hope you can help.

R_P_W

Hi I'm no expert but you would need to borrow approx 65k which is just over 4 times your income - which present day probably wouldnt be a problem (however who knows what the world will be like in 2 years).

I guess you just have to consider that you will have costs for the sale and purchase have put aside too.

Not being nosey - but why do you want to saddle yourself with another mortgage?

katiedog

The main reason i want a mortgage is to able me to move to a better house. If anyone outthere knows which mortgage companies are best at offering mortgages for 4x salary with a high deposit let me no. thanks x