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Advice please
KASDRIVER
Posts: 74 Forumite
hi, i am soon to be debt free and am looking at getting a mortgage.
i earn 30,000 a year and could comfortably afford £800 a month on a mortgage.
credit file is ok - not brilliant ( a couple of late payments ).
my question is how much would i be able to get a mortgage for?
i have a deposit of 14,000.
thanks.
i earn 30,000 a year and could comfortably afford £800 a month on a mortgage.
credit file is ok - not brilliant ( a couple of late payments ).
my question is how much would i be able to get a mortgage for?
i have a deposit of 14,000.
thanks.
November wins ;
x 3 £5 jd sports vouchers,£275 big snap :j
x 2 caburys gift packs,bowtime winner?
x3 ticket to see airbourne
x 3 £5 jd sports vouchers,£275 big snap :j
x 2 caburys gift packs,bowtime winner?
x3 ticket to see airbourne
0
Comments
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A rough guide would be 4 times your income. Some will offer more, others less - some lenders will offer certain multiples for certain credit scores, ie. if you have a high pass, you get the highest multiples they can offer, if you get a low pass they offer less to you
Have you got an up to date copy of your credit file?
What purchase prices are you looking at?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 -
If you will be taking a mortgage on your own I would agree with Herbie dont go over 4 x your income otherwise your lifestyle will be restricted and you could struggle with the payments.I am a Mortgage Adviser
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.0 -
hi, up to date credit file shows 2 late payments one on a credit card one on a loan.
the mortgage will be solely in my name but we also have £550 a month disposable income from my partner- she has a really bad credit score ( ccj and defaults ) so dont want a joint mortgage.
we live in a really high priced property area. we have 2 children ( girl and boy ) but was looking to buy a 2 bed flat/maisonette to get us on the ladder.
these are priced between 140,000 and 160,000.
would we be able to get this much?November wins ;
x 3 £5 jd sports vouchers,£275 big snap :j
x 2 caburys gift packs,bowtime winner?
x3 ticket to see airbourne0 -
Potentially yes you could get that amount.
The second income helps a lot in terms of affordability, but I would again just be careful with the mortgage figures.
Best bet is to talk to a fee free whole of market adviser and let them see what they can find for you, and let them show you would that would equate to in terms of actual monthly mortgage paymentsI 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 -
thank you.
will make an appointment and see what they can do.xNovember wins ;
x 3 £5 jd sports vouchers,£275 big snap :j
x 2 caburys gift packs,bowtime winner?
x3 ticket to see airbourne0
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