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will i be able to purchase a property??
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How about buying a shared equity property or shared ownership? They aren't quite the same thing, and each has its pros and cons. But you can then get a bigger bang for your money, so to speak.0
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Another thing to consider is can you afford the repayments when interest rates rise? You don't want to stretch yourself to buy now only to find in a year or two you can't afford to pay the mortgage!!0
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The rent on the unowned share or equity loan (3%) will be deducted from affordability, further reducing the amount which can be borrowed.How about buying a shared equity property or shared ownership? They aren't quite the same thing, and each has its pros and cons. But you can then get a bigger bang for your money, so to speak.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.0 -
You mentioned your gf helping you pay the rent; is it an option to have her on the mortgage or would you rather avoid that situation?0
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