Mortgage Advice

[ALI_1]

Hi i want to get on the property ladder and move out ma folks place i only earn round £13500 year but my brother said he would get a joint one with me as a investment on his part so all i wanted to know is who would lend me the most becouse i know thay lend 3 times what you earn which realy dont get you much also what kind of mortgage is best any help would be realy appreciated

[kam05]

Post your question here as well for advice.

[sparkystav]

Its more like 5 times as much now mate.

Stav

[ALI_1]

Stav thanx for that i was kinda worrid about the 3 times what i earn thing. which lender will lend me 5 times as much its just i been on the net all day trying to make sense of everything i looked at yorkshire bank sight and thay wouldnt lend me much anyways realy apreciate the the advice/information.

oh kam lot of useful information on that sight cheers

[Fidgits]

be careful about stretching yourself more than you can afford - the property market is likely to soften this year.

I'd look at a discount tracker mortgage at the moment if you want one.

[Rikos]

Also, be very careful about stretching yourself with a mortgage as dont forget there are lot's of bills to pay and they are all on the increase.

I'm looking at getting a house next year or year after and just thinking about is depressing!

[Mike_B]

Also, be very careful about stretching yourself with a mortgage as dont forget there are lot's of bills to pay and they are all on the increase.

I'm looking at getting a house next year or year after and just thinking about is depressing!

Don't be depressed. When you get your grubby paws on the keys from the agent, and go and open your very own front door for the first time in your life - it's a fantastic feeling mate...

To the OP, try going to www.charcolonline.co.uk - they don't cover every mortgage on the market, but it will give you a feeling for the sort of money you will be able to borrow. Once you have a rough budget, you will be able to start looking for the right place for you. Since house prices seem to softening for the moment, don't be afraid to look around until you find the place that's right for you - it's not going to be sold, or priced up and out of your reach, in a couple of months like might have happened a year or two ago.

[Rikos]

The thing that is annoying me the most is that when i come to get a house the bills will be almost as much as the mortgage. I just need a few promotions and pay rises and i'll be fine.

Or a rich missus!!

[aztecbandit1]

I had a good deal with Birmingham Midshires they were very helpfull and did most of the work for my morgage, I only needed to borrow £40,000 and i pay £270 a month on a repayment morgage its a variable rate so does go up and down now and again but they will let me fix it at a set rate if i want to?

I've put the payments up a little higher to help bring it down a bit quicker but always have the option to put it back to the standard rate if needs be, been very happy with them and never had any problems :D

[swfcdan]

i too am looking to become a first time buyer, im looking into the possibility of the graduate mortgages they offer to those who have just finnished uni. think im going to wait 6months or so to see how the market goes.