2007-02-06 20:51:22 · 11 answers · asked by donna c 2 in Business & Finance ➔ Renting & Real Estate
oh yeah sorry we are both 23 my partner is plumber and i work in jewellry shop not that that would make any difference. im only part time tho does that make a difference?
2007-02-06 20:55:56 · update #1
Just because you are ABLE to borrow a large sum of money, doesn't mean you should DO it.
I urge you to be semsible and not mortgage yourselves up to the hilt.
2007-02-06 20:55:36 · answer #1 · answered by Not Ecky Boy 6 · 1⤊ 1⤋
Approx 150,000 WOW! Sounds good doesnt it, but interest rates are rising and you will need to pay it all back. It is possible to get a 50 year mortgage though, I wouldn't recommend more than a 30 year term for you young love birds!
Put down the biggest deposit ever, sell your car and sell old crap on Ebay. Make the thing smaller at the start!
2007-02-07 00:13:10 · answer #2 · answered by My name's MUD 5 · 0⤊ 0⤋
£120,000 a realistic offer but there are some lenders that will give you more. They will look at your potential future earning power dependent on your work etc. Be very careful though because when the joint earnings reduce to a single earner, repayment becomes a difficult proposition. Best of luck what ever you do.
2007-02-06 20:55:57 · answer #3 · answered by ANF 7 · 2⤊ 0⤋
Depends on the lender. Check out the rates in the Financial Mail supplement, Mail on Sunday this weekend or on-line at www.moneysupermarket.co.uk or www.moneysaver.com. Usually between 3.5 to 5 times gross income.
2007-02-06 20:56:29 · answer #4 · answered by Anonymous · 0⤊ 0⤋
no part time dont matter . Its normally 3 and 1/2 times the joint income 129,500 . Go to an independant broker with "no fees" and self certificate if need be
2007-02-06 21:01:08 · answer #5 · answered by paul t 4 · 0⤊ 0⤋
It usually 4 times the main salary and 3 times the lesser. Each bank has there own rules though. Check out the banks websites.
2007-02-06 20:53:57 · answer #6 · answered by mark 7 · 0⤊ 1⤋
probably about £185k. That is 5 times your earnings over 30 years.
2007-02-06 20:54:15 · answer #7 · answered by natasha * 4 · 1⤊ 0⤋
About 4x your combined salaries
2007-02-06 20:54:05 · answer #8 · answered by McQ 3 · 0⤊ 0⤋
the usual is 3x37000... but now some are offering 5x37000
2007-02-06 20:55:05 · answer #9 · answered by man with the golden gun 4 · 1⤊ 0⤋
hi you should be able to borrow around £135.000depending on what you all ready pay out
2007-02-07 07:00:54 · answer #10 · answered by alexlamb@btinternet.com 1 · 0⤊ 0⤋