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Uk based what salary is good to get a mortgage on your own and what sort of job?
i hope somebody has the answer to my question. I work on a 18 5k salary mortgage i will get is 80k and i have a deposit of 25k there are not msny freehold properties available on this budget. I was thinking maybe to change jobs. I need a direction. Thank you in advance
3 Answers
- SCATTY cLv 68 months ago
Uk based what salary is good to get a mortgage on your own and what sort of job? - all depends on how much you want to borrow. Obviously, the higher your salary the more you can borrow.
I work on a 18 5k salary mortgage i will get is 80k and i have a deposit of 25k - well, you've answered your own question there are not msny freehold properties available on this budget - why do want freehold? They tend to be the more expensive properties. I don't understand why you have discounted all leasehold properties, that makes no sense??? I've lived in two leasehold houses. House one, I paid £10 a year ground rent, this one £60. Hardly a deal-breaker. I was thinking maybe to change jobs - are you capable of earning more? I need a direction. Thank you in advance - you have not given a clue as to how much a cheap two bedroom house is in your area
- blackgrumpycatLv 78 months ago
On an £18.5k salary, it sounds as if you are either unskilled or in a semi skilled job. If there isn't a chance of promotion, perhaps you need to think about retraining for something which pays better. Or just carry on saving until you have reached a bigger deposit. There are no quick remedies (short of inheriting money). It can take years before you have enough.
- TavyLv 78 months ago
You can work it out yourself. Mortgage loans are usually 3 X your annual salary minus the deposit which is usually 10% of the asking price.
Look on Rightmove for your area.
Halifax are good for first time buyers.
UK