First time buyer

kerry1986

Hello

I am looking for some advice. I am looking to buy a house in the next 12 to 24 months and want to know if it is worth visiting potential lenders or a broker now and see how much I can borrow on my current salary. I have just started a new job, am due a pay rise before the end of the year and a promotion middle/end of next year when a member of our team retires. I will have paid off my car loan by November this year and all of my credit cards will be clear by the end of next year at the latest.

I am currently paying £650 on debt payments and a further £300-400 extra to clear them off so will have around £1000 a month to save for a deposit before I get any pay rise.

I want to know how much I could borrow and what deposit I will need. I am aiming for a minimum 15% deposit and a bit extra for all the extra fees. I don't want to save a deposit and then find it don't have anywhere near enough. I am buying a property by myself and am.more than happy to get a second job to speed up the time it takes me to build a deposit.

Thank you.

amnblog

A simple conversation should get you in the ball park Kerry.

Trying to establish reliable figures for an event 12 or 24 months away has little value.

kerry1986

Thank you for your help.