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Advice on sole mortgage.
sternjohn662200
Posts: 64 Forumite
Just a enquiry really. I am gonna start in the new year to rent and start to save for the future and was wondering what I need to be earning to realistically be able to afford a mortgage on my own. I dont really want to leave myself no money if I cannot afford it. I can be earning £25,000 a year in the near future and wanted to know if this would be enough. If live in an area where I could get a house for about £110,000.
Cheers
Cheers
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Comments
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I have just helped a client get a mortgage of £133 they earn around the £27-28k mark and it is affordable as she has no unsecured debt. If your score is good you can get from 4-5 times your income. Deposit wise, if you can 10% is great but 5% will be fine. 100% mortgage are out there but rates are high.
Good luck.
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