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does anyone have a morgage/renting?
do any of youy guys have morgage? if so how if you dont mind me asking. im stay at home mum of a 1 year old.
[Modified by: mrskc on 17 February 2010 12:11:56 ]
[Modified by: mrskc on 17 February 2010 12:11:56 ]
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Nowadays I think you need quite a high % deposit to put down on a house, i.e. if you see a house for ??100,000 you need cash up front of say ??20k and the bank will lend you the ??80k - when we were looking they were throwing loans at you 110% mortgage wasnt unheard of, which meant borrowing more than the house was worth. Absolute madness, and now obviously its all blown up in ppls faces with the credit crunch and house prices going down alot of people couldnt even pay off their mortgage if they sold their house which means they cant easily move
Not to worry you lol! Go over your income/expenditure figures and you will be fine
I'm a mortgage adviser and it will depend on your income and your deposit available. You need at least a 10% deposit now to buy a property, and most lenders will lend around 4 times your income.
Broody
xx