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How much could we burrow on 35k ?

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Comments

  • sugarpants_2
    sugarpants_2 Posts: 601 Forumite
    No promotion fro husband. For me possibly early next year but only an extra 2k per year.
    SAVING FOR OUR FIRST HOUSE DEPOSIT

    15,000 NEEDED /35,000 SAVED SO FAR! :j
  • sugarpants_2
    sugarpants_2 Posts: 601 Forumite
    Spoke to IFA on here and he said my hubby could apply on his own with 15k deposit and get 135k through Halifax using no dependants. So thats one way to go about it I guess. Wed have to relocate a few miles out to Wiltshire and commute to work. then possibly move back in a few years.
    SAVING FOR OUR FIRST HOUSE DEPOSIT

    15,000 NEEDED /35,000 SAVED SO FAR! :j
  • notanewuser
    notanewuser Posts: 8,499 Forumite
    sugarpants wrote: »
    Spoke to IFA on here and he said my hubby could apply on his own with 15k deposit and get 135k through Halifax using no dependants. So thats one way to go about it I guess. Wed have to relocate a few miles out to Wiltshire and commute to work. then possibly move back in a few years.

    Sounds like mortgage fraud to me.
    Trying to be a man is a waste of a woman
  • notanewuser
    notanewuser Posts: 8,499 Forumite
    ComebackGirl wrote: »
    I'm not having a dig but if you live in Berkshire and earn £35k between you I doubt any bank would agree.

    Is there any way either of you could go for a promotion?

    Husband is a company director/self employed.
    Trying to be a man is a waste of a woman
  • notanewuser
    notanewuser Posts: 8,499 Forumite
    sugarpants wrote: »
    Agree with what hun?

    Agree to a mortgage.
    Trying to be a man is a waste of a woman
  • tinkerbell28
    tinkerbell28 Posts: 2,720 Forumite
    sugarpants wrote: »
    Spoke to IFA on here and he said my hubby could apply on his own with 15k deposit and get 135k through Halifax using no dependants. So thats one way to go about it I guess. Wed have to relocate a few miles out to Wiltshire and commute to work. then possibly move back in a few years.

    Right he has dependants, so that's a no go, so whoever the IFA is, is talking crap.

    Secondly, Wiltshire is not a "few miles out". It is a hell of a commute in rush hour down the M4/A34. I know as we had to do it when we went from Berks to Wilts.

    It cost EASILY £80 a week in Diesel not to mention tyre wear, etc.
  • Atomix
    Atomix Posts: 370 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    tinkerbell28 wrote: »
    Right he has dependants, so that's a no go, so whoever the IFA is, is talking crap.

    Secondly, Wiltshire is not a "few miles out". It is a hell of a commute in rush hour down the M4/A34. I know as we had to do it when we went from Berks to Wilts.

    It cost EASILY £80 a week in Diesel not to mention tyre wear, etc.

    Speaking from experience in this particular commute - took the words out of my mouth, and, further to that, there is ALWAYS and I mean a couple of times every week problems delays with m4 and a34.... Not a decision taken lightly trust me.
  • MrChandlerBing
    MrChandlerBing Posts: 131 Forumite
    edited 25 October 2013 at 10:25AM
    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?

    So you want a 5.6 * mortgage with a whooping 5% deposit?

    Good luck.

    You need to change your expectations, earn more money or continue to rent. Those are your only realistic options
  • kingstreet
    kingstreet Posts: 39,439 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    sugarpants wrote: »
    Maybe shared ownership?
    Shared ownership will see the rent deducted from your mortgage affordability, leaving you able to borrow even less.
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
This discussion has been closed.
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