We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Want to become a Forum Ambassador? Visit the Community Noticeboard for details on how to apply
Mortgage and Buying
Jude007
Posts: 1 Newbie
Hi Good Morning,
7 years I chose to go for a joint ownership with a local housing association on modern 2 bedroom apartment, stupidly moving from a one bedroom both in scotland.
Instead of taking up the full 100%, I didn't and continue to paying the other 50% rent to the housing association. I am intending to sell this 50% in the summer.
The value then is overall 84k (Mortgage 42k). probably nearing £100k+ now.
I now find myself living in Cheshire, with a one year old and my partner, perm job - we have a household income of 100-110k per year and seeking a mortgage with my partner. Not sure what we will qualify in terms of Mortgage value.
Can anyone advise if the joint ownership means I can no longer qualify for new (first time) buyer with my partner - we have around 30k deposit also. At the moment we pay 1000 per month for rent.
Is there any advice on mortgages and what I should do, how much you realistically should be paying out per month, my job is secure, my partner is pharmacist. but it pains me to be constantly paying 1k for a rental.....
Please help, never been one for numbers, but 30's now and realising time to settle.
J
7 years I chose to go for a joint ownership with a local housing association on modern 2 bedroom apartment, stupidly moving from a one bedroom both in scotland.
Instead of taking up the full 100%, I didn't and continue to paying the other 50% rent to the housing association. I am intending to sell this 50% in the summer.
The value then is overall 84k (Mortgage 42k). probably nearing £100k+ now.
I now find myself living in Cheshire, with a one year old and my partner, perm job - we have a household income of 100-110k per year and seeking a mortgage with my partner. Not sure what we will qualify in terms of Mortgage value.
Can anyone advise if the joint ownership means I can no longer qualify for new (first time) buyer with my partner - we have around 30k deposit also. At the moment we pay 1000 per month for rent.
Is there any advice on mortgages and what I should do, how much you realistically should be paying out per month, my job is secure, my partner is pharmacist. but it pains me to be constantly paying 1k for a rental.....
Please help, never been one for numbers, but 30's now and realising time to settle.
J
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards