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High single income mortgage
Comments
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Keep it simple. Are their lenders likely to lend at 4.4 x income at 65% LTV and three dependents? Yes, there are.0
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Work out what you CAN afford.
thanks i think this website is useful, looks like with resonalble planned spending only (approx £1500-£1800 per month for the 4 people family), looks like we can still afford the mortgage at 7% with a few hundred pounds left.
But how is the lender view our £1500-£1800 is indeed the reasonable planned spending? our current account probably will spend more than that (20% more maybe) as we have more disposable income right now so we spend more on non-essential stuff casually?0 -
also, i think with 2 young children (age 0-5), the financial situation of a full time breadwinner + full time home maker probably not much worse than 2 full time working parents +full time care cost? Especially for middle income+ family in London?0
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