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How much deposit?
DalePie
Posts: 147 Forumite
Hi,
Me and my partner are thinking of selling and moving in the next year or 2.
Our current home is worth roughly £100,000 - it's highly likely that we won't earn anything on the property because it's value has lowered over the past few years - thankfully we're not in negative equity!
Our new home is going to be in a more affluent city and as a result we'll probably be paying between £150,000 to £200,000 possibly for a flat rather than a house.
Our combined income is £60,000 - both employed full time and I also have a £5,000 to £10,000 side income (Depending on what time I Have) that's self employed. We both have decent credit scores which we are working on building up at the moment, paying off debt and
How much deposit would we need to have a decent chance to grabbing a mortgage?
Me and my partner are thinking of selling and moving in the next year or 2.
Our current home is worth roughly £100,000 - it's highly likely that we won't earn anything on the property because it's value has lowered over the past few years - thankfully we're not in negative equity!
Our new home is going to be in a more affluent city and as a result we'll probably be paying between £150,000 to £200,000 possibly for a flat rather than a house.
Our combined income is £60,000 - both employed full time and I also have a £5,000 to £10,000 side income (Depending on what time I Have) that's self employed. We both have decent credit scores which we are working on building up at the moment, paying off debt and
How much deposit would we need to have a decent chance to grabbing a mortgage?
0
Comments
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5% minimum for HTB - Mortgage Guarantee.
Rate around 5% per annum.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 -
With 60k income, I imagine you'd be able to borrow 180 without many problems (assuming affordability checks out etc) - so, really, 10% deposit should be doable between 150 and 200...0
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Thanks :-)0
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