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newbie to mortgages
Duffinya
Posts: 28 Forumite
Now as far as I can see mortgages are not an easy matter!
my query if anyone can help is if I have a deposit of £50K and my salary is £18K what is the highest i can buy property for. I have seen an decent place for £150K is there any chance if not what realistic for me?
More info i'm 23, graduated in 2003 and do not wish to have anyone else as guarantor
Help please
my query if anyone can help is if I have a deposit of £50K and my salary is £18K what is the highest i can buy property for. I have seen an decent place for £150K is there any chance if not what realistic for me?
More info i'm 23, graduated in 2003 and do not wish to have anyone else as guarantor
Help please
“There is freedom waiting for you,
On the breezes of the sky,
And you ask "What if I fall?"
Oh but my darling,
What if you fly?”
(Erin Hanson)
On the breezes of the sky,
And you ask "What if I fall?"
Oh but my darling,
What if you fly?”
(Erin Hanson)
0
Comments
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The tool on the Halifax website says that you can borrow up to £72k based on an 18k income with no loans.
With your deposit that would take you up to £122k max. There are lenders who will go higher than this but then the rates may not be as favourable.0 -
Do you currently rent?
If so what is your monthly rent?
What is your occupation/job title?
Do you have any outstanding loans/credit cards etc.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 -
i live with my dad at the mo so no rent the only loan i have is my student loan left nothing apart from that and my job is addmissions/admin at a college“There is freedom waiting for you,
On the breezes of the sky,
And you ask "What if I fall?"
Oh but my darling,
What if you fly?”
(Erin Hanson)0 -
There are many more bills to pay when you have your own home. Council Tax is the worst. Do you know how much this would be/is ? Gas/Electricity/Water and property maintainance are considerations.
Stay put for now and move up the greasy admin pole if you can. Gather skills, go on courses, get a post that befits your talents.
Make sure you get the best rate for your savings/investments.
J_B.0
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