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How much can we borrow?
mrs_p_8
Posts: 2 Newbie
Hi all, this is my first ever post!
Me and Mr P are looking to buy a house at the end of this year.
He earns approx £21k and I earn approx £6k.
We've managed to save £20k but some of this would be used for fees etc and the rest will be the deposit.
How much are we realistically going to be able to borrow?
I've been on mortgage calculators and its says they'll lend us £80k-ish. But we're wanting more like £130k for a decent-ish house in our area.
Any help would be great, thank you!
Mrs P x
Me and Mr P are looking to buy a house at the end of this year.
He earns approx £21k and I earn approx £6k.
We've managed to save £20k but some of this would be used for fees etc and the rest will be the deposit.
How much are we realistically going to be able to borrow?
I've been on mortgage calculators and its says they'll lend us £80k-ish. But we're wanting more like £130k for a decent-ish house in our area.
Any help would be great, thank you!
Mrs P x
0
Comments
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If you earn 27k between you and have no debts and this income is based on employed income then you should be able to borrow over 100K however, to borrow 130k would be pushing it and it would fall down to credit history and affordability.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
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Brill, thanks for your help.
We're going to arrange some mortgage meetings and try to blag it!
Cheers!0 -
Blagging doesn't work, honesty will lol
God luck.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
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