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Some advice, please!
Stef-iow
Posts: 5 Forumite
Hi,
Apologies in advance for my lack of knowledge!!
I'm looking for some pointers?
When my husband and I put our details into a mortgage calculator, the figures come out between £250,000 and £270,000. However, Halifax (as we have a deal until March) came out with a DIP of only £194500! Obviously this is a big difference - can anyone suggest why this might be?
We are trying to work out what price we can go to on a house, so the difference isn't helpful.
Rough figures:
Purchase price £300,000
Deposit: £50,000
Joint monthly (net) income: £3682
Outgoings (incl (new) mortgage, food, petrol etc): £2432
This would leave us with about a third of income spare each month
Any help would be appreciated?
Apologies in advance for my lack of knowledge!!
I'm looking for some pointers?
When my husband and I put our details into a mortgage calculator, the figures come out between £250,000 and £270,000. However, Halifax (as we have a deal until March) came out with a DIP of only £194500! Obviously this is a big difference - can anyone suggest why this might be?
We are trying to work out what price we can go to on a house, so the difference isn't helpful.
Rough figures:
Purchase price £300,000
Deposit: £50,000
Joint monthly (net) income: £3682
Outgoings (incl (new) mortgage, food, petrol etc): £2432
This would leave us with about a third of income spare each month
Any help would be appreciated?
0
Comments
-
Lenders assess affordability at 7% interest rates. On a 25 year term a £250k repayment mortgage would be in the region of £1,750 per month. Greatly reduce your spare cash if this was the case.0
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