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Help to Buy / First Time Buyer

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  • Help to Buy / First Time Buyer

    Hi All,

    I really hope this is the correct kind of forum for me to post this question in - sincere apologies if this isn't.

    Basic information:
    Salary - 27-28k
    Includes bonus of around 2.5k (that can be shown for a number of years)
    Savings: 15k

    I am hoping to utilise one of the Government schemes, such as Help to Buy or First Time Buyer.

    I've attempted to research myself - and found a lot of calculators that state I can borrow around 110-120k based on my salary. However, I've also seen notes stating that salary may not factor into this, and I could borrow more (which I'm hoping).

    I've booked appoints next week to discuss this with banks - but I'm hoping to have my mind alleviated somewhat to see what my actual options might be before this point, so I know sooner if I could actually buy a house.

    I am not worried about the mortgage payments, as I know I could afford ~1k per month (and I would get a lodger in, but not need to rely on this income). However, it appears a bit more black and white with banks, which is unsurprising. I just do not know if my salary will hold me back on being able to purchase a house around 200k (the price new build, 2 bedroom houses appear to be in Portsmouth).

    Any help and advice will be greatly appreciated - and like I said, I do have appointments booked. This is just initial exploration before these - so I know what I can go in there and expect.

    Thank you!

  • #2
    Re: Help to Buy / First Time Buyer

    Thanks for your advice .Our management team has accreditation from MARLA.
    Lettings Agents Edinburgh - Property Management Services