Inspired by another thread here, I'm wondering how many of you have or would borrow the maximum you're allowed for a mortgage?
DH and I are sort of house hunting, we have a very good equity ratio (80%) in current house but the sort of place we'd like to move on to requires a significantly bigger budget, where we'd be borrowing the maximum allowable and have a LTV nearer 45-50%.
Does that feel comfortable and would you do a similar thing for the 'forever home'? We could clear our current mortgage in 6 years but a new one would see us on a much longer term. We are both in secure jobs, for now.
Guess I'm just interested in how common it is to take in the maximum borrowing vs being much more cautious. We can't seem to decide what to do!
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Did you borrow the maximum?
67 replies
goldpendant · 11/08/2020 21:40
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