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☆●¢αѕѕιє●☆ | Buying a property ? England answers only please.? |
How does a 20 year old purchase a property, that costs £200,000 ?
Since she is only young can she get a mortgage and pay it off, during her life ?
Thanks, best answer gets 10 points.
Additional Details
olliedog :
You can answer if you like! I suppose anywhere in the UK can! |
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Salinah
|
First of all, think you need to work out your financial situation. You will need to find out too how much you are able to borrow for morgage purposes. Here the average house prices in London are nearly over the £200,000 mark, so maybe in your best interest to look somewhere outside high-cost areas. You can also look to buying jointly with a family member or a close trusted friend and I'm sure there are mortgages that cover this area where there is a partner-ship of this sort, also it might also be wise to get a solicitor involved incase the partner ship with another person does not work out and there may be problems in who gets what when the house is sold. Just some advice I think you might like to consider. All the best !! |
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susie x ♥♥♥
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Depends entirely on amount of deposit and then earnings. |
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Liadan
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It all depends on the amount of money the 20year old makes each year, credit rating, deposit she is willing to give.
Good Luck. |
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s.waters1@btinternet.com
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Maybe with hard work and a mortgage over 40 years ! |
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hellogoodbyeuk
 |
Age doesn't come into it, the bank won't let you get a larger morgage just because you're young and could possibly work longer than an older person. You could lose your job, for example. Banks will base how much they will lend you on your current income (and the stability of this, i.e. will you continue earning this amount or more) and any assets you have which could provide sercurity for their investment. |
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ALBERT
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Thats going to be hard you would have to earn very big money to buy a house that costs that much. |
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melly
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Firstly she would have to earn at least £50,000 per year!!!!!! |
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ken p
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forget it love buy a tent |
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olliedog
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I definately know the right answer to this, but as I'm from Wales not england...............well sorry! |
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