where to begin with mortgages (especially shared ownership and help to buy)

robin1981_2

hi,

I've recently got out of debt and started saving for a deposit, I've got a couple of thousand so far and am hoping to be able to save £800 a month as I'm living with parents. I earn £32,000 a year and Im hoping to get something through the help to buy/shared ownership schemes.

I just had a few questions I have had trouble googling:

1)my main one is how much are commuting costs factored into the mortgage calculations. The areas I would want to live would be outside london so I would have to spend £2000-£4000 a year on train travel. I thought one way to approach this is to knock the amount of the train ticket (plus a little more as its after tax) off my salary to see the amount I could be loaned. But is this how it works, or do they assume most people will have some computing costs?

2) with shared ownership schemes you have to live or work in the borough council you are looking to buy in which puts a lot of restriction on where I look. I was wondering how long you have to live in the borough before being eligible, as I would be willing to rent for a while if that is what it takes.

3) I am completely out of debt and have a good credit rating, should I occasionally take credit to keep a healthy rating or is zero debt better?

4) What other things should I be doing while saving so that I am ready when the time comes, I'm saving all my bank statements and payslips, are there any other things like this I have overlooked?

many thanks