mortgages

[jenna]

How do you get a good mortgage?

Me and my DH went to buy a house last year and he was earning £1000 a month. They told us that we couldnt have the house because we could only get a mortgage for £60,000! Im only bringing in another £830 a month...and we both work full time. Iv been looking at houses and i cant even find any at £60,000 and the ones that are about £80,00 are horrible small houses in a ruff area!

How do people get mortgages for over £100,000?

We pay £450 rent and its getting stupid now..i dont like seeing almost half my wages go into some one elses pockets and we end up with nothing!!

 

[bexxie]

try northern rock they give you 6 times your salary. Go on www.moneysavingexpert.com it is run by martin lewis the financial guru and he has a huge secion on mortgages on it go to the mortgage section then to chat that should see you right. Hope this helps
Bex

 

[bexxie]

working it out you could have £190k for £900 a month

 

[jenna]

weve seen some houses we were interested in for about £120,000. And we earn between us £1830 a month...So any where that will allow us that would be great! I havnt seen anywhere though. Its a nightmare!

 

[budge]

id hate to be a first time buyer now. I bought my first house in 1997 which cost 30 grand.
We've worked ourselves up and up but god knows how people go about getting on the ladder now.

 

[bexxie]

here this should help a bit
http://forums.moneysavingexpert.com/for ... .html?f=15

 

[jenna]

well iv looked at loads of estate agents and websites but i cant see any houses around here for less than £78,000. My mum suggested that it may be cheaper to buy a plot of land and build a house. that way we can have everything we want exactly how we want it. And with how much houses are these days it could be cheaper!

 

[jenna]

here this should help a bit
http://forums.moneysavingexpert.com/for ... .html?f=15

thank you I'll show my DH when he comes in.

 

[HayleyB]

We got our mortgage through northern rock.... they do 125% mortgages for first time buyers, and they said we could borrow up to £135,000.
The house that we brought was only(!!) £90,000 though so mortgage payments over 35 years only worked out at £478 or something, but we borrowed an extra £19k to clear debts etc.

We spoke to a mortgage advisor through Bridgfords, they are independant so you don't have to buy your house from bridgfords.

My wages are only £13k & DH's are £12500.... so there is hope for all!! lol!!!

Good luck chick!

xox

 

[Charm]

OMG 35 year mortgage

I didn't even know they did them that long.

Mine is £65k over 25 years at £448 per month. Only 20 years to go Woo Hoo

Cx

 

[budge]

i think they have to do them that long now so that young people can afford to get a mortgage.

 

[Emmylou]

We've given up on buying a house, if we bought the apartment we live in now, our interest only mortgage payments would be around £900 per month, but because our landlord is on a good financial position, and bought a few years ago off plan, we only pay £575 in rent which covers their mortgage payments.

We have accidental damage insurance for when I spilt my fake tan on the cream carpet (oops!) and we can move whenever we want as long as we give a months notice - genius.

We're not on the property ladder, but we only have my salary coming in as run our own business and can only afford 1 salary (i take the salary cos I'm the only one who remembers to pay the bills on time) so wouldn;t get a decent mortgage anyway.

Good luck with the mortgage, hope it all works out for you Jenna

 

[Sarah&Braydon]

we moved in july last yr so Braydon would have his own room my mum and dad had a 20.000 mortage and now its 100.00 all thanks to me lol my mum is 43 and they have sorted it out that they will be paying for it till she is 65 and finishes work
its a great way to make me feel guilty


jenna my council does a schemme that u buy 50% of a place they buy the rest and u pay a lil a month toward its and end up owning the property worth finding out if they have this schemme in ur area

 

[maybebaby]

Removed personal post

 

[Strangeness]

We're stuck living at my mum's for the moment because we can't afford a mortgage! We can't get anything! My husband has a really decent paid job and even if I worked full time as well we still couldn't buy. The south west is the highest prices in the country so it's impossible. The council don't wanna know us even though my mum has had to swap her room for my old one because we couldn't fit a cot in it, so not holding our breath there! We're waiting for properties to come up on the shared ownership scheme which is what Sarah said about you can buy a percentage of a property and then you pay reduced rent on the rest. It's the only way we'll be able to get stable housing. If we're desperate we can private rent but I hate the thought of paying money to someone else for them to be able to kick us out after 6 months. I get so upset about housing because first time buyers haven't got a chance which includes me and my husband and I want our own home for our son. It's depressing!