Mortgage on low income

rosegirl36

Hope someone can help

My partner and me have split up and are selling our property, i will be left with 55000/60000 to use as a deposit to find somewhere else, i have noticed a few properties i like in the 100,000 bracket.
My problem is i only earn 10000 and i am 54 so not sure if i could get the £40000 mortgage needed to move forward.I am superb with my money,have no debts,loans etc.I know i could manage the payments,Does anyone recommend a way forward?
Thanks

hmm07

I would say it is feasible. You can usually borrow 5 times of your salary and until the age of 73 depending on the lender. Speak to your bank first see what they offer first.

Suarez

Your repayments will be approx £350 - £400 per month on take home pay of approx £800. Will be tight with council tax, electric, gas,water, tv licence etc aswell.

Unless you can get a longer mortgage.

rosegirl36

I could actually stretch to £70000, also in a few months i could take lump sumps on pensions if i really needed to.Is there a mortgage comparison website that would take my low income into account?