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First time buyer mortgage with big deposit but income too low?
fariba3
Posts: 14 Forumite
Hi,
We're desperate to get on the property ladder but my partner appears to be making not enough money to get a mortgage despite a fairly large deposit of almost £100k. (My parents gifted it to us instead of inheritance when they are gone). Shouldn't this offset the income we're making somehow? Especially as we'd like to get a share-to-buy property? How much can we actually afford?
We're desperate to get on the property ladder but my partner appears to be making not enough money to get a mortgage despite a fairly large deposit of almost £100k. (My parents gifted it to us instead of inheritance when they are gone). Shouldn't this offset the income we're making somehow? Especially as we'd like to get a share-to-buy property? How much can we actually afford?
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Comments
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You haven't said how much you earn...
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Did you check the Sharetobuy affordability calculator? https://www.sharetobuy.com/affordability/
https://www.sharetobuy.com/mortgage-comparison/
You should see a broker who has experience in shared ownership.Hi,
We're desperate to get on the property ladder but my partner appears to be making not enough money to get a mortgage despite a fairly large deposit of almost £100k. (My parents gifted it to us instead of inheritance when they are gone). Shouldn't this offset the income we're making somehow? Especially as we'd like to get a share-to-buy property? How much can we actually afford?0 -
Hi,
We're desperate to get on the property ladder but my partner appears to be making not enough money to get a mortgage despite a fairly large deposit of almost £100k. (My parents gifted it to us instead of inheritance when they are gone). Shouldn't this offset the income we're making somehow? Especially as we'd like to get a share-to-buy property? How much can we actually afford?
I guess it depends on your combined incomes and the price of the house you are looking at?0
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