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Low Income Mortgage
MrStarship
Posts: 23 Forumite
Okay, I'm ready to move out of family home and looking for a property between 75,000/90,000 and I am currently have £25K deposit. I'm on the electoral roll, never missed any credit card payment and only debt is student loan of around £10K.
However, the primary issue is my salary is £18100 and will be single applicant. I'm just wondering what are my chances of getting a mortgage?
However, the primary issue is my salary is £18100 and will be single applicant. I'm just wondering what are my chances of getting a mortgage?
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Comments
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Sounds feasible given your deposit, certainly.0
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MrStarship wrote: »However, the primary issue is my salary is £18100 and will be single applicant. I'm just wondering what are my chances of getting a mortgage?
Draw up a budget and see what's financially feasible.0 -
Very do-able I would have thought.
£85k property with £25k deposit leaves a 35 year repayment mortgage of less than £250 I would have thought. You earn enough for most lenders (assuming no gremlins in the credit past) and the monthly rent is probably cheaper than any private rent.0
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