mortgage on a low wage possible?

bigbluehouse

yes it does.

AnotherJoe

bigbluehouse wrote: »

yes it does.

Well there you go then, an additional significant expense to be added to the long list
You are in seemingly very cheap accommodation and will likely get a big financial shock when you own a property. I really doubt it would be affordable on your salary.

I suggest you need to work on upping your income because that will make the biggest difference to you, since cutting expenses can only go so far. In the meantime take advantage of your cheap accommodation and carry on saving.

bigbluehouse

Would a mortgage advisor talk me through such things if I went to see one with the idea of a prospective property or online? It maybe that I can't get one now, but I'd like to know how things work anyway....

Thank you

HampshireH

An advisor would talk you through your option yes.

scaredofdebt

If you're flexible about where you live then look around for cheaper options, you can get a 2 bedroomed terraced house in the north-east for under £40k and council tax is under £100 a month if you look around. Might not even need a mortgage!