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Help to buy mortgage
jacko198
Posts: 25 Forumite
So me and my girlfriend are saving for our first house.
We had planned to save £15000 for a £300,000 house. Using the Help to Buy scheme with the 20% government loan.
Now doing online mortgage calculators we have found that monthly payments would be around £850+ per month.
We currently spend £650 a month on rent and save £400 a month between us each month. With not many outgoings
The problem is our joint salary is £45000. The help to buy mortgage people we have spoken to say they only allow upto 4.5 x your salary. But also mentioned others might allow more.
The annoying thing is that i know we can afford it, but using the 4.5 rule they don't think we can.
What is an average guideline for x Salary calculations? Is 4.5 an average or have people managed to get more?
We had planned to save £15000 for a £300,000 house. Using the Help to Buy scheme with the 20% government loan.
Now doing online mortgage calculators we have found that monthly payments would be around £850+ per month.
We currently spend £650 a month on rent and save £400 a month between us each month. With not many outgoings
The problem is our joint salary is £45000. The help to buy mortgage people we have spoken to say they only allow upto 4.5 x your salary. But also mentioned others might allow more.
The annoying thing is that i know we can afford it, but using the 4.5 rule they don't think we can.
What is an average guideline for x Salary calculations? Is 4.5 an average or have people managed to get more?
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