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new to mortgages
fairmorn308
Posts: 1,530 Forumite
hiya am new to mortgages and just wanted to know how much i would be able to get a mortgage for with a 33k salary with one CCJ which is due to be removed next year.
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you would be looking at anywhere between 3.5 - 5x your income. However if you work on 4 x that should give you the most choice.
Do you have a deposit?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 -
well i could supply a deposit but depends on what sort of mortgage i can get tho with my CCJ on file.0
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well it depends on what deposit you can supply to what income multiples you will get. It also depends when the ccj was settled.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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the CCJ has just been settled but it is due to be removed next year. Well i would be talking around 10k deposit0
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anything house price above 100k and you would be looking at less than 10% deposit. If it has been setttled, it shouldnt be a huge problem.
Waiting a year may help so you dont even have to disclose it but many lenders will do it now. Rates may be higher and fees higher. Do you have other debts as this will effect the amount you can borrow.
I would go and see a broker but with no debts 120-150k seem feasible. Whether you can afford to repay is a different question.
Check with a broker and get a feel for the repayments.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 -
cheers
no other debts at all and the place am wanting os £135k which is a new build0
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