Pimping my CV

This morning, we visited a mortgage adviser with the current mortgage provider about options for buying somewhere up t'north (ok, the East Midlands...)

Having what's left of the inheritance helps enormously because it gives a worthwhile deposit, ditto house prices there. She gave a little gasp when we told her how much somewhere with four bedrooms costs there - it's doable for £200k, i.e. substantially less than this two bedroom place would go for now.

On L's sole income and 30% deposit, they'll allow us to owe them £140k. So with £35k left on this mortgage, this gives £105k in a new mortgage.

If I get a job paying £10k, how much more do you think they'll allow us to owe them?

Poll #1728029 Mortgage maths

Open to: All, detailed results viewable to: All. Participants: 5

How much more is an additional income of £10k worth?

View Answers

£5k

1(20.0%)

£10k

0(0.0%)

£20k

1(20.0%)

£30k

1(20.0%)

£40k

1(20.0%)

£50k

0(0.0%)

£60k

1(20.0%)

This entry was originally posted at http://lovingboth.dreamwidth.org/422141.html, because despite having a permanent account, I have had enough of LJ's current owners trying to be evil. Please comment there using OpenID -

have and if you have an LJ account, you can use it for your OpenID account. Or just join Dreamwidth! It only took a couple of minutes to copy all my entries here to there.

5 comments — :

( 5 comments — Leave a comment )

adjectivemarcus

2011-04-08 03:06 pm (UTC)

I'm guessing, of course. I have no idea how mortgages work.

purplerabbits

2011-04-08 04:39 pm (UTC)

Depending on the provider it'll be right at the top or right at the bottom. I was horrified at what they offered to lend me and Sandy, so I went for the top :-)

valkyriekaren

2011-04-08 05:51 pm (UTC)

Don't even talk to me about mortgages. At the moment I can't even get one due to my work situation, and even if I could, most of the places I see that I can afford turn out to be 'cash buyers only' due to the ridiculously conservative attitudes of mortgage companies/underwriters when it comes to anything that isn't bricks and mortar with a tiled roof.

lovingboth

2011-04-08 08:45 pm (UTC)

Yes, you were one of the people I was thinking of when I put the cut tag on the post. The frightening thing is what we could buy as first time buyers in London - not much.

badriya

2011-04-08 09:15 pm (UTC)

I meant my guess as how much extra in addition to L's and your deposit.

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lovingboth

It not a joke!!! It is the truth!!!

Giving people what they want: violence and sloppy eating