Mortgage affordability

Lord_lucan

Myself and my partner are currently saving for a mortgage, we expect to have 20k deposit in the next few months. Combined we earn 65k an are looking in the region of 200k for a propert. Combined dept is 31k, 1 loan with a £300 payment per month for 9 years. Is this likely to impact our ability to find a mortgage.

Help much appreciated.

Thanks

RhysHSCC

Hi lord lucan

I think you should be ok, but don't forget pension contributions, buildings/contents insurance, etc etc. There will be some lenders who will ask for details which some won't e.g gym memberships, mobile phone contracts

There are affordability calculators you can use to get an idea on lenders websites as a guide to what they will be prepared to lend you. This will vary from lender to lender.

ACG

All debt will have some impact on how much you can lend.

If you jump on some calculators and plug in the figures you will see if you can get what you need. I think you should be fine with some lenders also based on what you have said.