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Affordability
bradwan75
Posts: 35 Forumite
My partner and I have been in rented accommodation and are now looking to buy. I'm on around £36,000 per year and my partner works part time for around £10,000. We have no debts and a deposit of around £40,000. We're looking at getting somewhere in the region of £180,000. I was just after a bit of reassurance that these kind of figures weren't beyond the realms of possibility. Or am I in dreamland?
Many thanks in advance.
Bradwan
Many thanks in advance.
Bradwan
0
Comments
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So you're looking at a mortgage of £140k (£180k-£40k)
Income of £46k
A loan to value of 77.7% - so borrowing £140k against a value of £180k
These are all very good figures.
You would need to have a look at some deals, and see what that would equate to in terms of monthly mortgage payments, to be entirely happy, but you should have no problems on the mortgage front (assuming good credit history and no other debts)I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Dead easy.Mortgage | £145,000Unsecured Debt | [strike]£7,000[/strike] £0 Lodgers | |0
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Has herbie read your post correctly do you want 140K or 180K? Either way it should be possible as long as you dont have a load of other debtI like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)0
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We've found a property at 180,000 and have 40,000 for a deposit plus another 5,000 or so for fees so we'd need a mortgage of around £140.000. Combined salary is 46,000. We have no debts either.0
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As per my first post - still think you should be fineI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Should be easy, you are in a great position.poppy100
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