Bank has agreed mortgage in principle, but seems unaffordable to us!

tigsly

ACG i thought that too.. I dont spend £40 a month on my car.. perhaps i've been lucky?

I also thought an AIP was 'the maxiumum ' you could borrow - not a figure to aim at..

First time I bought a hosue they offered 5x 'both' (OH and I's) incomes.. scary stuff.. although part of me wishes i'd perswaded him to spend more - it migh thave saved us moving twice..

Opinion

Not very helpful but this thread made me lol. After getting angry with everyone you managed to find £60,000 extra in your budget over 25 years (not including interest etc.)

Brilliant.

maninthestreet

£120 per month on groceries sounds cheap for two people - only £2 per head per day??
Over £40 per month for telephone and internet - you can get it a lot cheaper thann that.

marsman802

I don't think the OP is bothered about the rest.

I did spot the anomolies, i.e. £2 per month on clothes, but people make their choices and run their lifestyle accordingly.

Opinion

maninthestreet wrote: »

£120 per month on groceries sounds cheap for two people - only £2 per head per day??

I'm sure they'll start eating more now they have this new found wealth.

House.buyer.sarah

Don't understand the problem here ?? I know you say you can't afford repayments that's fine just don't take out a mortgage then you have plenty of options, including not moving remaining mortgage free, or moving going to max amount bank will lend or taking out smaller amount you can afford it's not like you being forced to do it ??? ... I took out a mortgage less than my agreed amount you could just do same but cheaper house ?

james_09

You say you would struggle to pay £450 a month mortgage, but what are you currently paying in rent?

Or did I miss that somewhere.

AFK_Matrix

james_09 wrote: »

You say you would struggle to pay £450 a month mortgage, but what are you currently paying in rent?

Or did I miss that somewhere.

Yeah this doesn't seem to tie up with the SOA they posted either. On that they have no amounts for rent or mortgage yet pay council tax :huh:

So where are you living to not have any rent or mortgage yet have to pay council tax?

marsman802

The clue is in the OPs posts - she is MORTGAGE FREE at the moment.

AFK_Matrix

Fair enough then, others have given them all the advice I think they can. OP needs to sit down and work out a budget and then only get a mortgage for the monthly amount they can afford.