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Mortgage in my name only
chem15t
Posts: 3 Newbie
Hi I wonder if I can get some advice please?
My husband was declared bankrupt in January 2012 and we are having to sell our home as we can no longer afford the mortgage even at interest only. We owe £375K on a house we oaid £550K for 5 years ago. We have had the house up for sale for 18 months and it is on the market at £450K but we are going to have to drop the price again soon.
I earn £42.5K/year as a teacher. My question is, will I be able to get a mortgage on my own and roughly what percentage deposit do you think I will need?
Thanks.
My husband was declared bankrupt in January 2012 and we are having to sell our home as we can no longer afford the mortgage even at interest only. We owe £375K on a house we oaid £550K for 5 years ago. We have had the house up for sale for 18 months and it is on the market at £450K but we are going to have to drop the price again soon.
I earn £42.5K/year as a teacher. My question is, will I be able to get a mortgage on my own and roughly what percentage deposit do you think I will need?
Thanks.
0
Comments
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You would typically require a minimum of 10% and you could get a mortgage of upto £210k, depending upon other variables.
What can you afford each month and assume your credit score is ok?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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
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