Did i make a mistake ? 58k only...Natwest

Thrugelmir

DGJsaver wrote: »

Which gives me 98k on a 100k deposit on a 185k house....

Suggests £85k mortgage to me.

somethingcorporate

DGJsaver wrote: »

Which gives me 98k on a 100k deposit on a 185k house....

Seems about right - given your opening post.

DGJsaver

am i right in thinking the `commitments` thing is anything OUTSIDE normal household expenditure ?

DGJsaver

somethingcorporate wrote: »

Seems about right - given your opening post.

so if i only needed say 80k of that , then more power to me repayment amount wise (monthly) !

dimbo61

You are putting down a 50% deposit if not more which means the lender will be happy as you would have lots of equity if they need to repossess the property.
After you put down your deposit will you have any emergency savings? Just in case as you are the sole earner in the house?
£10K in cash ISA,s is a good emergency pot

DGJsaver

dimbo61 wrote: »

You are putting down a 50% deposit if not more which means the lender will be happy as you would have lots of equity if they need to repossess the property.
After you put down your deposit will you have any emergency savings? Just in case as you are the sole earner in the house?
£10K in cash ISA,s is a good emergency pot

Hi, well . at the moment we have just over 3k in an ISA and £500 to put into it in April , but i know that i will need possibly 3 x £800 odd to allow for surverys on houses that may or may not come to fruition , plus the arrangment fee , if applicable , plus the solictors fees £800 odd , plus the banks valuers survey - £300 odd....

so thats all gone already , thats let alone stamp duty ! so its a long road ahead , and my deposit , to be blunt relates to how much we get from the house we live in now.....and obviously the more we can get the better for not using all our share for a deposit

DGJsaver

Thrugelmir wrote: »

Suggests £85k mortgage to me.

Yes , my post didnt make sense!

i got the 98k answer before further going through the process...

dimbo61

What I am saying is if you can borrow upto £98K you might want to borrow a little more and keep a few thousand pounds in Cash ISA,s for an emergency pot.
This may help when moving into a new property Just in case of any major expense after you move in