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Could I get a mortgage? Advice, please!

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  • Could I get a mortgage? Advice, please!

    Hello!

    I'm thinking with my boyfriend to buy a house in London but we don't know too much about mortgages... We feel that we are wasting money renting a flat and it's annoying because we can't refurbish anything...

    Our earnings together are about £40,000 year and we have £30,000 of deposit.

    Do you think that we can get a mortgage? How much (more or less) the bank could borrow?

    Any advice will help Thank you!

  • #2
    Re: Could I get a mortgage? Advice, please!

    You should be able to, I had a similar deposit and earnings with my girlfriend and we got a mortgage on our house in Kent a couple of months ago. I take it you've looked at some houses? What sort of prices were they?
    Buy To Let Mortgages

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    • #3
      Re: Could I get a mortgage? Advice, please!

      Originally posted by nick41 View Post
      You should be able to, I had a similar deposit and earnings with my girlfriend and we got a mortgage on our house in Kent a couple of months ago. I take it you've looked at some houses? What sort of prices were they?
      Hi! Thanks for the reply!

      We are just checking for now online... We would like to buy a 3 bed house in Feltham area, we found some properties around £180,000 - £200,000 there. Do you think that banks could borrow £160,000? (according to our income & deposit).
      We don't have any credit... or anything else to pay.

      Thanks!

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      • #4
        Re: Could I get a mortgage? Advice, please!

        It sounds like you should be alright for being able to obtain a mortgage. 4 times your joint income is a usual multiplier although it will depend on credit score too. Perhaps have a word with a mortgage broker and they will be able to find the best deal for you.
        Anthony
        Compare the Mortgage Market
        http://www.comparethemortgagemarket.com

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