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advice please
Comments
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Some mortgage lenders do take tax credits into account. Talk to a mortgage broker to assess your options but I think you'll either need to boost your income or lower your expectation in terms of the size/type of property and/or location.0
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yay i have learnt to do a quote
So....renting costs you around £455 and buying costs you around £455 per month accounting for the interest that you would have earned. There's very little difference so just rent until you can earn more money and support a mortgage.
Renting would cost me at least £650 per month, and that is for a basic home.0 -
pmlindyloo wrote: »Agree with the last sentence but don't agree with the first!
Mortgages are much harder to get these days as they take account of monthly expenditure/credit card repayments.
The OP's age means this might also go against her.
Only saying after doing a quick calculation on Santander. Perhaps her own mortgage company would be more flexible.
Of course, the old adage of 5x your income is only a guide. However a single person, working full time, the expenditure would be fairly low.0 -
my house is worth about 150k, but i am taking into account paying off remaining mortgage, legal fees etc.So you're home could be rented out for £650 / month? But its only worth £110k?
My home could be rented out for at least £750pm., if the damp etc was remedied. My ex wants a lump sum asap.0 -
I bought my last place on my own on a salary of just over £11,000. This was back in 2010 and lenders weren't so picky in general, but I could only borrow £49,000. Luckily I had a decent deposit as you do.
It does seem like working full time is the best way to make this a possibility for you. That might not be possible in your current position but in the next three years surely you can find somewhere else that will employ you for more hours?0 -
I do the renting thing, as you dont have to think about maintenance, the land lord will do it ,,from a dripping tap a combi boiler ..:)
happy daze:)“Life isn't about finding yourself. Life is about creating yourself.”
― George Bernard Shaw0 -
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