you need to earn more money -- i suggest crime.
2006-10-15 22:27:12
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answer #1
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answered by mpok8 2
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You would have to get with a Realtor and they could tell you. It depends on how much you want to pay, and how much you want to put down, and what you want in a place to live. I take it you are from England, so it would be difficult, although I have been a Realtor before, it is just that you are in another country, so I am not familiar with the real estate prices there. I don't know what the diff. loans are there, here we have a first time buyer program and very little down, also a Veteran can get in with nothing down. It does not seem that you can afford much, but I do not know the real estate prices there. It would also depend on how much you owe, what your assets are, and your credit rating. Get with a Realtor, and get pre-qualified, then you can go look at some places. I live in California, so here the prices are higher than your area maybe. Good luck.
2006-10-15 22:24:00
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answer #2
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answered by shardf 5
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Some lenders would give you 5 x that, so a mortgage of 130k. However this wouldnt buy you much, but depends what area you live in. Probably get a 1 bed flat, however the repayments on 130k would be more than 500/month. Try and save a deposit as that will help in the long run.
2006-10-15 22:28:19
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answer #3
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answered by Annie M 6
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You should be able to get a mortgage of £100k (some may offer more) but bear in mind with that ammount, you'll be paying around £600-£700 a month (on a repayment mortgage). You can reduce this by taking an interest only mortgage providing you are confident that you can pay the full price of the house after your mortgage term is up.
2006-10-15 22:19:37
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answer #4
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answered by Charlie Brigante 4
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Carry on renting.I'd been off work ill for nine months and got behind with everything including the mortage and eventually had my house repossessed.I'll be paying the shortfall on what I still owed on the mortage for the next 28 years at £275 a month and the solicitors for the creditors keep hounding me for the full amount of over £90,000 in a lump sum.No one can get away from this,it's the law.No one knows what's around the corner when they take on such a great responsibility.
2006-10-15 22:50:00
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answer #5
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answered by Billy B 1
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you need to look online at mortgage calculators,or speak to a financial advisor. i couldnt tell you how much you could get as every mortgage provider has diferent criteria. some do 3 times the highest wages and 1 1/2 times the other, some will offer more. it all depends on your credit history and how much deposit you have saved. it also depends on the area you want to live in, as most places are out of reach to first time buyers these days.
as a guide, we pay £430 a mth for a £70,000 mortgage on an interest rate of 5.8%. we had £20,000 deposit as well.and live in coastal yorkshire.we were paying £400 mth for a damp house with slugs all over the carpets, but now have our own home.
good luck for the future, i hope you manage to get out of rented soon, its just dead money, that you could be spending on your own home.
2006-10-15 22:24:59
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answer #6
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answered by Anonymous
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-Down payment.... at least 5-10%, check with a bank and the mortgage rates.
-You shouldn't pay more than 33% of your income, or at least this is how a bank may see it for approval.
-Make sure your credit is good, stability with employment is also very valuable.
-Amotization...overall mortgage age to reduce cost ask for 25-30 years
-Mortgage term.....equate the current rates and your career plans as well as how the bank rates change with your country's governmental elections.....I would sign for nothing longer than 3 years at the most.
I'm in Canada, so this equates to 52K annually here, 1000 per month, you sould be able to afford it based on those amounts, you may find your mortgage cost will be something similar to what you are payng now to another 100 to 200 pounds ........ this also can depend on where you buy......
Best of luck :)
2006-10-15 22:36:12
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answer #7
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answered by Keanu 4
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real sources expenditures are coming down, yet not in the numbers which you may prefer. i'm sorry, yet 30,000 extremely isn't that large of an income in case you prefer to purchase a house, etc. I propose here: purchase once you get married and use the spouse's income. bypass FHA check out effortless counsel on the thank you to strengthen your income, the two with a 2d interest or extra hours at your cutting-edge interest. bypass back to college. you're 25 and make 30k. check out this heavily and answer this question. in the interest i'm in now, will my income strengthen to the point i prefer it to be with the intention to purchase a great homestead AND upward thrust a kin? If not, you ought to extra effective your self. i could spend the subsequent numerous years doing this. you're to not old. many people who bypass back to college are apprehensive that they are to old. submit to in concepts this, you would be older no rely what. whether, once you're 30, do you prefer to be the place you at the instant are? Or extra effective off?
2016-10-16 06:12:38
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answer #8
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answered by ? 4
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normally they calculate mortgages by 3-4 times salary in london they allow more. so the total you would be allowed is £104000. I think the isle of wight is expensive to buy a house there.
2006-10-16 00:28:01
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answer #9
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answered by jojo 4
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yes u could be paying £500 for a morgage a month or less
go for it
2006-10-15 22:18:25
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answer #10
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answered by zoe 3
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really depends on where you plan on living and the prices in that area, the most accurate answer to your questions really depends on you and your partner's credit scores and what type of loan program you'd be interested in getting, as that can greatly impact your payment.
2006-10-15 22:23:07
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answer #11
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answered by Full Circle 2
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