Sunday, July 19, 2015
How much deposit for mortgage will we need and what mortgage could we get out?
Me and my fiancé are looking to take a mortgage out we are new to this and not to sure what everything is.
My annual income is ã9,000 but over the next 3 years it will got up to ã23000.
My fiancé has an annual income of ã28000.
We have used the Santander budget calculator and we spend ã1553.33 a month. This is including ã500 a month for our flat and ã200 a month on utility bills and ã200 a month for food.
We were looking to buy a house between ã90,000 -ã150,000.
We have ã5000 saved so far but we are not sure how much more we will need to save for a deposit.
We would be willing to pay ã300 a month for the mortgage as well until my annual salary goes up to ã23,000 which we will be willing to increase the monthly payments to ã500.
Could someone tell us what our mortgage will be and how much deposit we will need?
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