Mortgage with 20k salary

Paradice

I have at least 10% deposit saved

Looking to buy a flat near Glasgow for about 90k

Would that be possible on 20k a year?

fromtheshires

I got a 66K mortgage on 19K back in the day so it should be do-able. I would speak to a broker and see what they can do for you.

Thrugelmir

Paradice wrote: »

Would that be possible on 20k a year?

Have you drawn up a budget of income and expenditure?

Paully232000

this above. If you earn about 1350/month, look at how much a 90% LTV mortgage at an average % would cost you per month.
Then add gas, elec, tv licence, water, mobile phone, petrol/fares, etc. Don't miss anything out, however small it may seem.
Then see how much you have left over each month for enjoying yourself/saving for those unexpected bills that come along/holidays etc

Can you afford it?

Belfast1978

Hello,

You might struggle I earn 20K I have very little outgoings as I own my house outright no debts etc and I had to use 30k to try and get a 89k mortgage on a £119k house. Don't take that as granted just my personal experiance

Paradice

Not drawn up a plan but pretty sure it should be ok.
20k is the basic but nearer 30 is possible, I'd rather not work the extra hours if I can get away with it tho!