How much could we burrow on 35k ?

sugarpants_2

Hi everyone

Myself and my husband are hoping to apply for a mortgage and we have a combined salary of 33k.

Does anyone have an idea how much mortgage.we could get? We have 15k deposit.
We may also look into the new 95% mortgages being handed out soon too! :rotfl:

Any help or advice would be fantastic!

S x

notanewuser

Have you tried a mortgage calculator?

(Probably £100-120k-ish, all things being equal. It depends on your circumstances though.)

AndyGuil

You could probabably hire a digger for quite a while with that. Should get you quite deep.

sugarpants_2

Oh dear what can we do then if we need £200k for a 3 bed house near us?

120k will only buy us a 1 bed flat?!:eek: With three kids thats gonna be tough :rotfl:

Maybe shared ownership?

[Deleted User]

Buy somewhere cheaper is the usual option

notanewuser

sugarpants wrote: »

Oh dear what can we do then if we need £200k for a 3 bed house near us?

120k will only buy us a 1 bed flat?!:eek: With three kids thats gonna be tough :rotfl:

Maybe shared ownership?

Get better paid jobs/much bigger deposit (you'll need that anyway) etc

Do you really think that banks are lending 5+ times salary?

HappyMJ

sugarpants wrote: »

Oh dear what can we do then if we need £200k for a 3 bed house near us?

120k will only buy us a 1 bed flat?!:eek: With three kids thats gonna be tough :rotfl:

Maybe shared ownership?

How about renting until you both have a job?

Shoppadolley

What's with all the sarcastic, nasty responses?? Seriously people come on here asking for good advice you lot should be ashamed of yourselves! Sugarpants best of luck in your search. If you can do the new build scheme then you basically get almost 20% more for your money??!!

John1993_2

Shoppadolley wrote: »

What's with all the sarcastic, nasty responses.

Probably a response to the completely frivolous style of the OP, and their insistence on bizarre an inappropriate "smileys". If someone appears to be treatiing this no more seriously than the question of what to have for dinner, then the style of the reponses will likely be similar.

That said the responses have not been particularly nasty or sarcastic, they've just made the point that the OP will probably have to work to increase their earnings, to look in a cheaper area, or will have to rent while they save up a bigger deposit.

It's generally the case that having a few children on a modest wage will restrict your choices in life. Pointing this out is no crime.

sugarpants_2

We both have a job :j

HappyMJ wrote: »

How about renting until you both have a job?

sugarpants_2

Aw thankyou. Ill ignore any negative reposonses. I know a lot of young famalies struggling with getting on the propertt ladder. Weve been trying to get on the ladder for 10 years now. Nightmare, determined to get on it somehow!:money:

Shoppadolley wrote: »

What's with all the sarcastic, nasty responses?? Seriously people come on here asking for good advice you lot should be ashamed of yourselves! Sugarpants best of luck in your search. If you can do the new build scheme then you basically get almost 20% more for your money??!!