Charlene
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Registered: 29th Sep 04
Location: Darlington
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I just wondered if any one could give me an estimate as to what they would think i could get on a joint mortgage application
Roughly on 11,700 annualy before tax and the other is 22,000 annually before tax
Thankd for any help 
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AndyKent
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Registered: 3rd Sep 05
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Usually they take the biggest salary, plus half the smaller, and multiply by 5.
So say £30k x 5 = £150k
Best to use an online mortgage calculator though from one of the big banks (Barclays etc)
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James
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Registered: 1st Jun 02
Location: Surrey
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Natwest have a good mortgage calculator on their site.
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James
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Registered: 1st Jun 02
Location: Surrey
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Sorry not Natwest. Halifax.
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by aPk
Usually they take the biggest salary, plus half the smaller, and multiply by 5.
So say £30k x 5 = £150k
Best to use an online mortgage calculator though from one of the big banks (Barclays etc)
Doesnt work like that with a joint mortgage, they usually do 3x 1st app + 2x 2nd app or something like that. Tho some have started doing it by affordability. In a nutshell your best to walk in somewhere & ask!!
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Colin
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Registered: 4th Apr 02
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£130k-ish would probably be a good guess!!
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whitter45
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Registered: 15th Nov 02
Location: Norton
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I agree - it depends on what you can afford - i.e any debts outstanding etc
I would suggest around 120k
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Charlene
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Registered: 29th Sep 04
Location: Darlington
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Thanks
Got an appointment to see a mortgage advisor on friday 
Going to see the house on saturday
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Ally
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Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
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might be better off seeing the mortgage advisor and getting an offer in principle before you start looking at houses
just because you use an income multiplier etc doesnt mean u will get back much, if either of u has bad credit that may get in the way
roughly 30k joint i think youd be looking 100 - 120k realistically, or 140k based on affordability assuming you have no major financial commitments
let us know what they say
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Charlene
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Registered: 29th Sep 04
Location: Darlington
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Went to the advisor
My uncle knows about mortgages and told us to wait until next year as house prices are meant to be coming donw this year so not sure if to rent then save up more money for a deposit and wait until next year
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M2RTY
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Registered: 25th May 01
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Charlene who did you go see?
I can recomend 1 or 2 good people in Darlington if you like
where abouts were you looking for a house? I've looked at a lot of new builds if you need any info give me a shout
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Charlene
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Registered: 29th Sep 04
Location: Darlington
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Went to someone in Robinson, steve mcmanuss or somethig like that, he works for his self but his office is in Robinsons
The house we like is in Geneva Road, its very nice just risky getting a mortgage then the prices going down or the new ones on moorfield
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Charlene
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Registered: 29th Sep 04
Location: Darlington
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How is your house coming along?
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M2RTY
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Registered: 25th May 01
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yeah its OK, just plastering the walls today in the kitchen
I will be able to see your house if you are on the top end of Geneva Road lol
Theres 35k or so knocked off some of the houses on moorefields now (the last of the new ones) - thats a hell of an amount of money!
I like the 3 bedroom ones there but still not too keen on the area 
rent mine if you want! lol
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Jambo
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Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
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RE house prices coming down, cheaper smaller house will not loose much value, will just be bigger flashier "luxury" houses that will come down. Too many people who need homes for the cheap stuff to drop IMO
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Charlene
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Registered: 29th Sep 04
Location: Darlington
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The one we went to see was number 374 i think  so probably can see it 
We seen some on that estate but i dunno if to rent for abit to see if house prices come down but if its only 10800 not sure if thast will come down in price 
Totally confused, trust them to say house prices can come down when i want to start to buy
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Colin
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Registered: 4th Apr 02
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Id ignore the 'advice' & buy as soon as possible. Its alwayys going to be better to move with the housing market, I cannot get my head around people saying its going to drop off. Maybe buying an expensive house (300k+) would be a mistake right now, but there will always be a market for affordable housing, 1st time buyers etc. If anything it will go up more at the bottom end next year due to people having to lower their reach & 'make do' with a cheaper house.
Get on it while you can!!
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Charlene
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Registered: 29th Sep 04
Location: Darlington
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I know thats what im thinking, as renting to me is dead money
What do you reckon about 50% ownership of houses?
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Colin
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Registered: 4th Apr 02
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Totally, get on asap is as much good advice as ive ever heard. Theres going to be a crash for as long as cosmo's been a jew & thats a long time!
50/50 - ok if your desperate to leave the parents home & have some trustworthy mates! Arnt you getting a place with your boyfriend? Just get a normal mortgage & get a joint account to pay the bills!!
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Charlene
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Registered: 29th Sep 04
Location: Darlington
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Yes with the boyfriend
Yea we were thinking of doing that but not sure if 50% was the best option as its part own then can buy the other half in a few months/year if wanted
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p4uls corsa
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Registered: 2nd May 05
Location: BRADFORD
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quote:
Originally posted by Charlene
Yes with the boyfriend
Yea we were thinking of doing that but not sure if 50% was the best option as its part own then can buy the other half in a few months/year if wanted
i was looking into the shared ownership schemes a while back, but i had to pay rent aswell as the mortgage, so i decided against it, as i refuse to line the other halfs pockets plus they gain half the equity.
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Jambo
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Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
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unless im married or related i would never buy a house with someone.
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Marc
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Registered: 11th Aug 02
Location: York
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I can imagine it causes all sorts of problems should the worst happen.
My brothers ex tried to get half his house when they split up and the mortgage was entirely in his name!
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Charlene
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Registered: 29th Sep 04
Location: Darlington
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quote:
Originally posted by p4uls corsa
quote:
Originally posted by Charlene
Yes with the boyfriend
Yea we were thinking of doing that but not sure if 50% was the best option as its part own then can buy the other half in a few months/year if wanted
i was looking into the shared ownership schemes a while back, but i had to pay rent aswell as the mortgage, so i decided against it, as i refuse to line the other halfs pockets plus they gain half the equity.
Im sure thats what we will have to do, then when we want to buy the other half they could want more or say cant buy it, its only if its last resort that iwould do this option
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corsa120
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Registered: 4th May 02
Location: Northamptonshire
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me and my mrs were offered 165k on me earning 25k and mrs earning 13.5k but to be honest i would not like the repayments on 165k on our earnings lol, lets just say my your talking 1k a month for just mortgage on 165k mortgage
we brought 3 bed for 108k and my mortgage is 650 quid a month
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