 Selling your home? |
| I am trying to sell my home by myself but I have no idea what to do in regards to paperwork, deeds or titles. If I do have a buyer, who would I go to when they get the approval from the bank. Do I ... |
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 What are the chances I get a home loan? |
| I have filed bankruptcy a little over a year ago. I have students loans and 2 credit card bills. I own my car. I have a fair credit score. I make around $26,000/yr. What are the chances I get a ... |
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 My title insurance company didnt disclose an easment ( whats it worth?)? |
| I found out 2 years after buying a house that there is an easement on my property that the title insurance company didnt report, from 1944, from a pipeline company, a lawyer said he has never heard ... |
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 Tenant trouble? |
| I am a council tennant & when i was rushed into hospital & had to have major emergency surgery i went to stay at my partners for a short time - a friend of his who hes known for 6 yrs moved ... |
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 Is it normal to have the seller pay for the closing cost? |
| I just had a good faith estimate done for a home loan, the closing costs reach almost $9,744.00!!! My loan advisor told me that the seller can pay the closing cost. Is this normal? Does it depend ... |
|
 Why are homes so expensive in the UK? |
limited supplies? not enough houses for people? I just read an article about how expensive it is in the UK, just woundering why?
Additional Details
yeah the article said middle or high-... |
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 My boyfriend moved to be with me 300 miles from home. |
| He was mad that his one ex moved them an hour from where he was. When he moved here all he did was complain, my son didnt go to bed on time, my daughter was a smart mouth and to noisey, he complained ... |
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 First time buying a house and i feel like i'm getting screwed with my payment, any advice? |
| i am in the process of buying the house we've been renting from my mom. she purchased the house for 320 and it was just appraised for 300. i'm taking over what's left so i'm ... |
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 Can I get house mortage without social security ID? |
I am student in USA enrolled recently to the university and I will stay for about 4 years.
My VISA is F-1 student VISA
currently I am living in rented apartment but I would like to have my ... |
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 What happens when you have an oral contract with your land lord and he wants to sell the house 2 mon. after? |
| I have rented from him for 3 yrs. and have had no contract ever and no problems. I recently moved into another rental of his and did another oral agreement. When we moved in he stated he did not want ... |
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 How much money would i need to put on a deposit for a house? |
| I am 21, wanting to get onto the property ladder and would like to put down a good deposit! Can anyone help by telling what would be a good amount????... |
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 Can my landlord evict me? |
| I have been living here for 4 years. In that time I have bounced 3 cheques. Every time a cheque bounced, I advised the building manager before he heard it from the bank and provided a replacement ... |
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 Does the amount you pay for mortage every month increases overtime? |
| my parents just bought a home that they cant even afford (700.00 in san francisco),the mortage payments will be 10 thousand dollars every month for 30 years,which i think is totally crazy,i am sure ... |
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 Can i report a landlord? |
| my brother in law became my landlord and i go without heat for weeks and days at a time no hall way lights either its unsafe to live here.and i have animals running around in my apt walls,and when ... |
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 Rental Property Electrical? |
| We are looking at purchasing a 2 bedroom home for rental property. It currently has 60 amp service with knob & tube wiring. Our city code requires 100 amp service but do we have to upgrade before ... |
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 Can a landlord send me to collections when I do not live at the apartment? |
| I signed a lease beginning in September and moved out before October, leaving the lease in my name, however my ex husband, his girlfriend and his cousin are living in the apartment that is in both of ... |
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grjones22 | What is the biggest mortgage I could get for a house in the UK on a salary of £25k? |
I am a recent graduate and would like to know the maximum mortgage I could get on a salary of £25k. Bear in mind I don't know much about mortgages!!
Additional Details
Thanks for the help so far. I'm actually hoping to buy a property of value £120k or greater as that's the cheapest I've seen for a one bedroom house in good quality where I live. Is this out of the question on this salary? |
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'Dr Greene'
|
Most lenders work on a multiplier of 3 or 4 times so 75 to 100k
As a graduate any payments against student loans might reduce your monthly affordability so they might only lend you less.
£120k is a stretch but you might find someone willing to do it in the right area. You could do with a partners income on the application form! Just see how much of a deposit you can scrape together to show willing. |
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billyandgaby
 |
Usually 35-40% net income, so about 10K a year/12.. Or about 800 a month
BP |
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taketwo
 |
150K |
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fish neck
 |
40k dependant on ya out goings |
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Jude
 |
Normally about 3.5 times your salary - so about £87,000. You will need at least a 5% deposit, and if you have any loans, they will take that amount off what you can borrow. However I have heard of some lenders lending up to five times a salary - need to make sure you can make the monthly repayments though. Best to go to a Financial Adviser for advice. |
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cross_sox
|
It used to be 3.5 times your annual wage.
so it would be 87.500 if it is still the same.
see a mortgage advisor they can sometimes be helpful |
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dreamscorporation
|
debt consolidation
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan
however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is:
http://umgarticles.atspace.com/debt-consolidation.htm |
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jenster
|
This is used to be around 3.75 times your annual salary, less any debts that you might have. Although a lot of companies will consider you on affordability these days instead. However, there are companies that specialise in graduate mortgages that might be more useful, as they don't require a deposit.
Check out moneyfacts.co.uk for all different types of mortgages. |
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nemesis
|
On average, you'd be looking at 4 times your salary (assuming you're single). A few lenders will lend up to 5 times your salary. This also depends on the deposit you put down. Generally, you'd need to put 5% deposit down, or you may find yourself paying a higher interest rate.
I have heard of a broker getting someone a mortgage for 8 times their salary. This was probably a special case involving a trainee, who is guaranteed a higher income when they finish their training.
Northern Rock are very good for first timers as they have the Together Range of mortgages, which will lend up to 125% of the value of a home. They do this through a combined secured and unsecured loan. This way, if you have a student debt which needs to be repayed, then you can consolidate this into the unsecured part of the loan. |
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duggiedugg
 |
normally 3x salary b4 tax and 15% deposit on the property. |
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Fairy Nuff
|
If its on a self certificated mortgage, as long as you can put up at least a 15% deposit then you can pretty much be assured that you'll get what you need - obviously within reason
So if the house you want is say £300K then you would need to put up at least £45k and so on and so forth |
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Bex
|
I am a gradute and they were prepared to lend me 4 times my salary at a fairly decent rate. I know there are a few companies that will do 5x now however their interests rates are higher so your monthly repayments will increase. Remember certain lenders will only lend to you if you have been in your job for 6 months or more. |
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