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Mortgage Advise
money_bags_2
Posts: 27 Forumite
HI
were looking to get back on the property ladder
our total income is just in excess of 32k
can we borry 3.5 or 4x our joint income???
can any one advise us
cheers MB
were looking to get back on the property ladder
our total income is just in excess of 32k
can we borry 3.5 or 4x our joint income???
can any one advise uscheers MB
debt in 2000 18k
debt now £3.5k
debt free by Oct 2007 :rotfl:
watch this space :rolleyes2
April £3,000 going down!!!
May £ 2,500 going down more!!!!
June £
July £
August £
september £
October £0.00 target ZERO DEBT:T
Proud to be dealing with my debt....you bet!!!!!:D offical nerd no:447:T
debt now £3.5k
debt free by Oct 2007 :rotfl:
watch this space :rolleyes2
April £3,000 going down!!!
May £ 2,500 going down more!!!!
June £
July £
August £
september £
October £0.00 target ZERO DEBT:T
Proud to be dealing with my debt....you bet!!!!!:D offical nerd no:447:T
0
Comments
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You can often get over 4X joint income but how much deposit do you have and is your credit cleanI like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)0
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Yes you should be fine at that level - but it will depend on your overall scenario
HTHI 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 -
wow that was quick!!! we have 10k deposit and 100% clean creditMr_helpful wrote: »You can often get over 4X joint income but how much deposit do you have and is your credit cleandebt in 2000 18k
debt now £3.5k
debt free by Oct 2007 :rotfl:
watch this space :rolleyes2
April £3,000 going down!!!
May £ 2,500 going down more!!!!
June £
July £
August £
september £
October £0.00 target ZERO DEBT:T
Proud to be dealing with my debt....you bet!!!!!:D offical nerd no:447:T0 -
that should be fine. what sort of price are you looking at?I like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)0
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the average income multiple with lenders is 4.7 - 4.9 x income but goes up the more you earn
Don't forget to deduct annualised credit commitments from your borrowing amountI 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 -
Mr_helpful wrote: »that should be fine. what sort of price are you looking at?
about 120k mark we can afford to pay back £ 600
no problemdebt in 2000 18k
debt now £3.5k
debt free by Oct 2007 :rotfl:
watch this space :rolleyes2
April £3,000 going down!!!
May £ 2,500 going down more!!!!
June £
July £
August £
september £
October £0.00 target ZERO DEBT:T
Proud to be dealing with my debt....you bet!!!!!:D offical nerd no:447:T0
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