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Can we afford this - much bigger mortgage...
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oh also, our current place is really cheap. Our fixed mortgage deal ends in 2 years and we can probably save another £5k in that timeAmo L'Italia0
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Huge upsizing in house? Wrong title maybe?0
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We moved last year but have no mortgage.
We upsized and have bigger energy bills,though getting new boiler soon,bigger water bills,jumped 2 bands in council tax.
Also spent a lot on refurb.
Just dont stretch yourself too far and personally dont think any jobs safe these days!0 -
Slightly diiferent as I was renting, however initially we were living in a 3 (old 4bed) detached house and our gas and electric was £250. We have downsized to start saving and in a 3 bed terraced newbuild we now pay £100. Council tax went from £200pm to £130pm. Water £70pm to £40pm. Just be careful as these extra costs helped wipe out our spare money and took away our quality of life. Along with the £250pm rent we save we are able to enjoy our life and save so much more. Think of how the Europeans live, they don't spend a lot on their houses and they prefer living their life. Best decision I ever made was moving!Saving needed to emigrate to Oz*September 2015*
£11,860.00 needed = £1,106 in savings
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sorry but £270,000 is a monster of a mortgage for a couple on Normal Average Income
If you G/F gives you the Good News that two will become three !!!!
It would mean your Income of £27K supporting a £270K mortgage and the bills.
New rules come in on the 26th of April all about affordability and you may well struggle to get the loan you want0 -
I would say the most important thing is to know whether you are both equally in favour of this proposed move. With the emphasis on your partner being the one who needs to be most strongly in favour, if anything. Reason being that she is the one with primary responsibility for making sure there won't be the "patter of little footsteps" to disrupt your plans. So, fine if she is determined there won't be any children unless and until you can afford them or not to have children ever, and you are both agreed that any "accidents" in that respect will be dealt with, rather than lived with, iyswim.
If you are both conscientious and determined on this aspect, then it should be possible.0 -
Yeah my advice was based on this too! Don't know why we bother?monty-doggy wrote: »Hence my stating bigger house!0 -
Also remember a £300k house is £310k and the £10k isn't on the mortgage - it's cash straight out of your back pocket (a lot of money) that is all...0
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