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Mortgage advice please
moorbricks
Posts: 8 Forumite
My wife and i need to move up to a bigger house due to a growing family(from 2 bed to 3 bed )
At present we currently have a mortgage of £102,000. A step up would increase this to somewhere between £120,000 to £140,000 based on the properties we've looking at.
We have about £45,000 equity in our property.
I'm age 41 and earn 21K (not including overtime ) My wife (a lot younger earns 11K. We have a clean credit history.
Can anybody tell us if we will be able to obtain a mortgage at thease levels of borrowing?
At present we currently have a mortgage of £102,000. A step up would increase this to somewhere between £120,000 to £140,000 based on the properties we've looking at.
We have about £45,000 equity in our property.
I'm age 41 and earn 21K (not including overtime ) My wife (a lot younger earns 11K. We have a clean credit history.
Can anybody tell us if we will be able to obtain a mortgage at thease levels of borrowing?
0
Comments
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On the raw figures you may be able to get a mortgage at those levels - either with a lender that offers high multiples or a lender that agrees loans on affordability.
However, as always, it has to be affordable to you now and in the future, so look carefully at all the figures.I am a Mortgage AdviserYou 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.0
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