help i earn 15k a year need a 90k mortgage

andyuk21us

Foxy-Stoat wrote: »

An annual salary of £15,000 means you would take home just under £1000 a month after tax and NI....if I had a hat I would be doffing it!

Seriously a £90,000 mortgage will be probably £500-£600 a month, council tax £100, water/waste £30, Electric/gas/telephone/broadband £100, TV license £10, home insurance £25 and food £150 say. Thats over £1000 a month without enjoying yourself, raining days, repair, decorating or upgrading works to you new home.

You need to allow for moving costs and legal fees also, mortgage fees can normally get added to the mortgage unless you use a broker, which is probably who you should speak to now as I am sure your 65% LTV should be achievable with your other half's income taken into account, doubt you will get it on your own.

If you have managed to save £52K in 4 years and can save another £52K in the next 4 days can you not buy something for £100K.....over 25 years you would of saved £100K in interest payments!!!!

thanks foxy your break down looks about right .
at this rate I will be buying a house out right I save on interest may be I would not loos to much with the house prices going up lol