Realistically can this happen!

wjr4

Check websites such as vouchedfor.com

looknohands

Is it right that the house is 170k and you have 10% deposit, so 153k loan?
I'm not sure why first comment was saying that's an income stretch!?

I borrowed 155k (173k property) on a joint income of 55k, your circumstances don't seem too different to mine other than the debt which you've repayed.

Over a 30 year term you'll be looking at £650 a month, I could personally stretch to £1000 a month if interest rates went nuts, if you think of it like that does it seem affordable? If so then go talk to a broker now!

moneycantbuyyouhappiness

Thank you looknohands, I was a bit surprised by that comment initially too as all calculators were saying the max we could afford was over £200k.

We had worked a budget of £1000 a month for the mortgage when we were originally looking at more expensive houses and it is affordable for us.

Thank you for all your replies x

Thrugelmir

moneycantbuyyouhappiness wrote: »

Thank you looknohands, I was a bit surprised by that comment initially too as all calculators were saying the max we could afford was over £200k.

Perhaps there's some confusion. At the outset you are talking about a property with a price tag £260k. Dropping to £170k is a sizable difference all round.

moneycantbuyyouhappiness

My apologies if I'm not very clear. Not really sure why I posted that bit of information. Its completely irrelevant.

dimbo61

Have you got a rightmove link to the house so we can see why it might be cheap for the area ( or buy it !! )