FTB help and advice

Nutella18

Hi i am newish to MSE forum and would like some help

i received AIP today from HSBC, it seemed after using a number of mortgage calulators they were the most generous? can anyone advise on most generous mortgage lenders or even a site i can compare on as a single applicant earning under 30k?

Second question, i have a AIP for 100k i have 10k deposit ...does this mean my total budget for house is 110k or does AIP include deposit and therefore budget is 100k?

Third question, thought i would mention i live in Scotland and i have my eye on a particular house with a slow turnover going for 95k and above... any tips on getting thr house you really want and love ? as they are very sought after ...

:j:j

jaelato1

Firstly - I wouldn't have thought HSBC was the most generous but that's just me - Maybe get a fee free whole of market broker to best help search the market

Secondly, deposit is not included, so if £100k is max borrow for lender, would be 110k house inc deposit

Thirdly, You know what your current max, wont go all in so you can have room to increase offer so 90-95k sounds like a good place to start (15-20k room)

Nutella18

jaelato1 wrote: »

Firstly - I wouldn't have thought HSBC was the most generous but that's just me - Maybe get a fee free whole of market broker to best help search the market

Secondly, deposit is not included, so if £100k is max borrow for lender, would be 110k house inc deposit

Thirdly, You know what your current max, wont go all in so you can have room to increase offer so 90-95k sounds like a good place to start (15-20k room)

Hi

thankyou for your reply, i used afew calulators, inputted same info and all other fell approx 5k-10k shorter ... i currently have approx 700 debt for couch payment thats all. I was going to go to mortgagw broker just wondered if there was a tool online to use at home

jaelato1

By a rule of thumb, The amount you can borrow is 4.5x of income, PA is 30k then you looking at 135k

Frugal_Saver

OP I'm in a very similar situation to you. Looking to save a bit more of a deposit before before researching mortgages. Good luck with your house hunting, let us know how you get on with mortgage and finding a suitable house