2006-10-23 05:25:14 · 9 answers · asked by dw17785 1 in Business & Finance ➔ Personal Finance
You can borrow three time the amount of your income so roughly £120,000
2006-10-23 05:38:49 · answer #1 · answered by Ivan 3 · 0⤊ 0⤋
Generally most mortgage companies will ask you to pay at least 5% deposit. However in some cases they will give you a full mortgage of 100%, although these obviously carry considerable risk.
The actual amount you could borrow is generally 3.5 to 4 times your salary. Banks do not really recommend borrowing beyond this amount because it leaves you and them exposed to risk if you cannot pay back the amount.
Therefore you could borrow around £133k to £152k. My recommendation to you would be to get a fixed rate mortgage so at least you know what you are paying back consistently over a period of time.
2006-10-23 05:29:59 · answer #2 · answered by Matt B 1 · 0⤊ 0⤋
The best thing to do is go online to halifax, nationwide etc sites
you can fill in various information and they have mortgage calculators so it will generate how much you can lend and how much the monthly repayments will be. Obviously these are just ball park figures and not proper mortgage offers but they will give you a general idea. They also give details of the various types of mortgages and rates that are on offer.
2006-10-23 05:36:06 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Probably around £120,000. But keep an eye on what outgoings you both have before you commit yourselves. There are many Housing Associations around now where you can rent long term. No point in having a mortgage, if you have nothing left each month to pay other bills, and the unexpected outlays.
2006-10-25 19:42:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Your source omitted the tax breaks to maximum of u.s. that have been given under the stimulus bill. If what you pronounced approximately for ever $a million you're making, $0.fifty two is going to the government shall we no longer have a deficit. the full sales of Federal, state and native Govts is under 36% is going to taxes. this is the end result which is composed of tax deductions, loopholes and credit.
2016-12-08 19:38:45 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Around £95k, but these days many lenders will look at affordability rather then just considering your salaries, so you could get quite a bit more.
2006-10-23 05:28:37 · answer #6 · answered by RRM 4 · 0⤊ 0⤋
around 3 times your salary.
Do you have children? if you do and are getting child tax credits you could add that as your income too, and your family allowance.
2006-10-24 08:54:27 · answer #7 · answered by Jayne 2 (LMHJJ) 5 · 0⤊ 0⤋
Most societies will lend 3.5% of your salary,so in your case i would think you can safely expect to be offered around 130.000.
2006-10-23 05:52:09 · answer #8 · answered by wozza.lad 5 · 0⤊ 0⤋
Apply online at www.surefirefinance.co.uk they will get back to you with an offer and work with you.
2006-10-23 07:50:18 · answer #9 · answered by Anonymous · 0⤊ 0⤋