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Ben

Banned

Registered: 12th Jan 03
Location: West Yorkshire
User status: Offline

24th Jul 05 at 15:21

ok am only 19 , still an apprentice with about 8month left . i earn £250 flat in my hand upto £500 in my hand .i have a bit of savings which i could put down.

i want to get a morgage and move away from home but i dont have a clue what to do? who do i see and what do i do?

thanks

Kerry

Member

Registered: 5th Oct 01
Location: Norwich
User status: Offline

24th Jul 05 at 15:28

in your hand as in not on books?

Craigos

Member

Registered: 2nd Aug 02
User status: Offline

24th Jul 05 at 16:18

I Think he means after tax and national insurance

Im 20 moving out very soon, looking @ buying a place or renting. Problem is renting is DEAD money as 2 speak..

Im currently changing jobs, but im normally earn approx 500-600 In my hand a week. tax man gets £150 a week

And even earning that much im gonna struggle to get a morgage. split up with the mrs so its harder on ya own

[Edited on 24-07-2005 by Craigos]

Ben

Banned

Registered: 12th Jan 03
Location: West Yorkshire
User status: Offline

24th Jul 05 at 16:19

yeh after tax and nat insurance

vibrio

Banned

Registered: 28th Feb 01
Location: POAH
User status: Offline

24th Jul 05 at 16:26

quote:
Originally posted by Ben
ok am only 19 , still an apprentice with about 8month left . i earn £250 flat in my hand upto £500 in my hand .i have a bit of savings which i could put down.

i want to get a morgage and move away from home but i dont have a clue what to do? who do i see and what do i do?

thanks

I think you need to pray - you'll not get a mortgage with 250 a month or even 500 a month in your hand

Craigos

Member

Registered: 2nd Aug 02
User status: Offline

24th Jul 05 at 16:27

I think hes on about 250-500 a week..

hope so

If its a month you wont get a morgage Simple

Kerry

Member

Registered: 5th Oct 01
Location: Norwich
User status: Offline

24th Jul 05 at 16:29

underwriters look to see a single person has atleast approx £650 a month before considering a mort. its how they work out affordability

Ben

Banned

Registered: 12th Jan 03
Location: West Yorkshire
User status: Offline

24th Jul 05 at 20:32

quote:
Originally posted by vibrio

quote:
Originally posted by Ben
ok am only 19 , still an apprentice with about 8month left . i earn £250 flat in my hand upto £500 in my hand .i have a bit of savings which i could put down.

i want to get a morgage and move away from home but i dont have a clue what to do? who do i see and what do i do?

thanks

I think you need to pray - you'll not get a mortgage with 250 a month or even 500 a month in your hand

no mate i get about a 1000 a month in my hand

Ben

Banned

Registered: 12th Jan 03
Location: West Yorkshire
User status: Offline

24th Jul 05 at 20:34

i could stick 5k down and then id have a 1000 a month , would this be enough to live off? my girlfriends on about moving in too so would help with food but shes only on £80 a week as a student

Pop

Member

Registered: 8th May 03
Location: Reading
User status: Offline

24th Jul 05 at 20:44

you're right not to rent, it's like pissing into the wind!

...if you have been with the same bank for more than 10 years go and get a consultation with them. They can look quite favourably on youbecause they know your banking history .. just an idea

nickyboy01

Member

Registered: 10th Sep 03
Location: Oxford-ish
User status: Offline

24th Jul 05 at 20:52

quote:
Originally posted by Ben

quote:
Originally posted by vibrio

quote:
Originally posted by Ben
ok am only 19 , still an apprentice with about 8month left . i earn £250 flat in my hand upto £500 in my hand .i have a bit of savings which i could put down.

i want to get a morgage and move away from home but i dont have a clue what to do? who do i see and what do i do?

thanks

I think you need to pray - you'll not get a mortgage with 250 a month or even 500 a month in your hand

no mate i get about a 1000 a month in my hand

Thats £12k a year, enough for a £40k mortgage

vibrio

Banned

Registered: 28th Feb 01
Location: POAH
User status: Offline

24th Jul 05 at 20:55

quote:
Originally posted by Ben

quote:
Originally posted by vibrio

quote:
Originally posted by Ben
ok am only 19 , still an apprentice with about 8month left . i earn £250 flat in my hand upto £500 in my hand .i have a bit of savings which i could put down.

i want to get a morgage and move away from home but i dont have a clue what to do? who do i see and what do i do?

thanks

I think you need to pray - you'll not get a mortgage with 250 a month or even 500 a month in your hand

no mate i get about a 1000 a month in my hand

then say that. do not say 250

nickyboy01

Member

Registered: 10th Sep 03
Location: Oxford-ish
User status: Offline

24th Jul 05 at 20:56

quote:
Originally posted by Ben
i could stick 5k down and then id have a 1000 a month , would this be enough to live off? my girlfriends on about moving in too so would help with food but shes only on £80 a week as a student

Not a chance

A 80k mortgage would be in the region of £500 a month plus insurances, add £100 council tax and approx £25 a month for each of the other bills, thats about another £150-£180 per month. Thats £800 without any food shopping etc, car running costs/insurance etc etc

You'll usually need 3 years worth of bank records/payslips to show earnings ans expenditure

[Edited on 24-07-2005 by nickyboy01]

[Edited on 24-07-2005 by nickyboy01]

p4uls corsa

Member

Registered: 2nd May 05
Location: BRADFORD
User status: Offline

24th Jul 05 at 21:02

if u can get a 10% deposit u can get a mortgage for any amount if u go self sertified. with out the deposit i dont think u would get more than 50k

as said above tho its been able to keep to the payments of between 500-600 a month plus other bills

[Edited on 24-07-2005 by p4uls corsa]

nickyboy01

Member

Registered: 10th Sep 03
Location: Oxford-ish
User status: Offline

24th Jul 05 at 21:03

Self certified you can get a lot more but need 3 years worth of business accounts.

My brother is currently trying to get one himself

p4uls corsa

Member

Registered: 2nd May 05
Location: BRADFORD
User status: Offline

24th Jul 05 at 21:06

u dont need 3 years worth of acounts if its under a sertain amount

[Edited on 24-07-2005 by p4uls corsa]

Kerry

Member

Registered: 5th Oct 01
Location: Norwich
User status: Offline

24th Jul 05 at 21:43

what the hell are u 2 on about

Ian

Site Administrator

Registered: 28th Aug 99
Location: Liverpool
User status: Offline

24th Jul 05 at 23:07

Self cert is a bit of a licence to borrow too much but you still have to pay this back!

James

Member

Registered: 1st Jun 02
Location: Surrey
User status: Offline

24th Jul 05 at 23:12

I suggest you learn how to spell mortgage before you apply for one

Kerry

Member

Registered: 5th Oct 01
Location: Norwich
User status: Offline

25th Jul 05 at 06:53

self cert is a non income verification mortgage application

Blue

Member

Registered: 24th Feb 03
Location: Sideways
User status: Offline

25th Jul 05 at 08:17

Me and my bird have a mortgage for £130,000 and we put in £650 each a month.

That £1300 a month covers everything - bills, food, maintenance, mortgage - the lot.

Anything less would be a fucking struggle.

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