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Checking how mortgage I can get

Marvel1
Marvel1 Posts: 7,453 Forumite
Part of the Furniture 1,000 Posts Name Dropper
in Mortgages & endowments
I wish to get a mortgage on my own, but I don't know how much I can borrow. What is the best way? I have been told to go to arrange an appointment with my bank/building society and discuss options etc. I only want a rough idea so I know what price range to look for when getting a flat/house. I'm a first timer as you can guess and I have no idea.

Comments

  • JoeK_3
    JoeK_3 Posts: 1,374 Forumite
    What is your income?
    Do you have any adverse credit history?

    JoeK
    I am an Independent Financial Adviser.
    Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.
  • Marvel1
    Marvel1 Posts: 7,453 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    herbiesjp wrote: »
    Does tha help in the area you are looking at?

    DO you have a deposit?

    I'm from Port Talbot, so looking in that area or Neath.I have £10k saved so far
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    cjdavies wrote: »
    I'm from Port Talbot, so looking in that area or Neath.I have £10k saved so far


    What are property prices in the Neath area like? WOuld that be enough to help you get a property?
    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.
  • Marvel1
    Marvel1 Posts: 7,453 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    herbiesjp wrote: »
    What are property prices in the Neath area like? WOuld that be enough to help you get a property?

    I have seen prices for a 1/2 bedroom flat for around £62k
  • JoeK_3
    JoeK_3 Posts: 1,374 Forumite
    Go for it but see a whole of market mortgage broker.

    JoeK
    I am an Independent Financial Adviser.
    Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    cjdavies wrote: »
    I have seen prices for a 1/2 bedroom flat for around £62k


    That looks straight forward enough

    I would howver suggest looking at what that would mean in monthly figures to you.

    While some may be happy to use a high percentage of their monthly income towards mortgage costs, others prefer to allocate lower amounts, so you would need to see what those costs what be and if you were comfortable with that money going out each month

    Get a fee free whole of market adviser to get you a good deal

    HTH
    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.
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