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How much would banks let me borrow?
dnewcombe10
Posts: 7 Forumite
I'm currently saving towards my FTB deposit and have a goal of 20k by december 2014.
I'm looking at buying a property ideally with 3 bedrooms and this means the house costs are around 150-190k dependant on location.
Between me and my girlfriend we have a joint income of £35,000 and using the online calculators have had mixed loan amounts.
We both have student loans but no other debt. Has any one been in a similar situation and know how much of a house we could buy? I'm aware our limiting factor to the houses we are looking at are the amount of money the bank will allow us to borrow.
I'm looking at buying a property ideally with 3 bedrooms and this means the house costs are around 150-190k dependant on location.
Between me and my girlfriend we have a joint income of £35,000 and using the online calculators have had mixed loan amounts.
We both have student loans but no other debt. Has any one been in a similar situation and know how much of a house we could buy? I'm aware our limiting factor to the houses we are looking at are the amount of money the bank will allow us to borrow.
0
Comments
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Probably around £150-170k, play around with affordability calculators from lenders, if you are looking for a high multiple, you would probably do best with the big high street lenders - Santander/Woolwich/Nationwide/Halifax/Nat west.I 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
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I have had a look and they do seem to be saying between 150-175k.
What effects the amount you can borrow in that range?
Thanks0
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