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Yahoo Expert Answers – Mortgage Question – 25th Nov 2009
Mortgage Question.... £15000 deposit, £25000 salary married with 2 kids under 5, wife full time mother......?
Fair Credit Rating, is it gonna be easy to get a mortgage?
- 4 months ago
- (Tiebreaker)
Additional Details
yes £10,000 extra to cover the costs
Perhaps up to £100,000, assuming you have savings to cover costs and can put 15% deposit down. It may not be that easy as lenders affordability calculators do take into account your overall situation. It is a realistic possibility though.
Your Number One issue here is to ensure you budget exhaustively due to your existing commitments. You need to be certain you can afford the mortgage comfortably and have 3 times your net salary on deposit as an emergency fund at all times.
Disclaimer:
The answers above are for guidance only and should not be acted upon without you receiving professional mortgage advice relevant to your circumstances. To find an independent mortgage adviser please go to http://www.unbiased.co.uk
Source(s):
James Carter, Independent Financial Adviser, Independent James
James has 11 years experience working in the Independent Financial Advice arena. Mortgage & Protection advice have always been his main business areas and James’ vision for customer service entails a one to one service combined with comprehensive administrative support. James also holds the Advanced CeMAP qualification. James is a frequent provider of media and industry comment, including BBC’s Working Lunch, FT Adviser, Money Marketing, Mortgage Strategy and Mortgage Introducer magazines.