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mortgage agreement in principle
nathan882
Posts: 8 Forumite
I have just received a mortgage agreement in principle of £110,000 with 35% deposit. Does this mean I can offer on properties around £150,000? Or £110,000?
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Comments
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If the mortgage amount is £110,000 you would add your deposit to it to discover your maximum purchase price.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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Er... £169,230 purchase price, 35% deposit which is £59,230 and £110,000 mortgage.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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kingstreet wrote: »Er... £169,230 purchase price, 35% deposit which is £59,230 and £110,000 mortgage.
Sorry yes my calculation was incorrect.:jFinally going to be a homeowner:T0
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