seen 'the' dream house. would we be able to afford it or would mortgage broker laugh in our faces??

[belcantavinissima]

i love it so much. it is destined to be ours. i want it. nay, i need it. it is £370,000 (could poss get it for 350,000 [hopeful emoticon]). dh earns £50,000, we have approx £80,000 equity in ours to use as a deposit. would it be do-able do you think esp in current mortgage-lending climate??? i think as market is a bit weird may be a great opportunity (itsa perfect 6 bedroom house btw and just what we need)

[LIZS]

Allow at least 15k fees to move , you're looking at about 300k mortgage so 85% loan to value. Can you afford to repay it ?

[belcantavinissima]

i dont know. how would it work out per month? sorry am a bit useless at this kind of thing. so the 85% is not too bad is it i guess??? would dh be earning enough to qualify for such a big mortgage do you think?

[belcantavinissima]

would that be the norm then to offer 10%below the asking price? tbh its well underpriced as it is i would have thought.

[LIZS]

at 6% over 25 years interest only it is around £1500, repayment 2k per month

[oldwomanwholivedinashoe]

link to property please? Just nosey!

[belcantavinissima]

hmmm well that would make it about double what we are paying now. [ponders on what to cut down on]. it would be so worth it if we could scrape through now because its so so beautiful [sigh] and we are currently crammed into a 2 1/2 bed cottage and dh seems to think dss is going to live with us in a couple of yrs and there most def will not be room here then!

[belcantavinissima]

ok will lnk to it but you have to promise not to go buying it before me

swoon

[belcantavinissima]

oops its £380,000 not 370,000, that must have been wishful thinking

[belcantavinissima]

hanaflower- am at that amount. only back in april we were told we should be able to get 6x dhs salary with no problems

[belcantavinissima]

malory i know i know .see i just need it dammit!!!!!!1

[LazyLinePainterJane]

LOL at buying it before you....why yes, I shall just whip out my credit card

Have you found out how long it has been on the market? Has it lowered? What are surrounding properties selling for? Why would you only offer 10% less than asking?

[TwoWashTutter]

start low

you can always go up

ask them where they got their kitchen table would you - wuld be good in our new house

[belcantavinissima]

in fact would feel rude offering less as i think [whispers] it should be more! its like a much bigger version of my tiddly cottage

[TwoWashTutter]

we were offered around 6x dh's income back in june

don't want it but they were happy to offer it

[belcantavinissima]

it is quite bunty inside isnt it??

[IorekByrnison]

It is lovely, but that seems like a massive mortgage on a £50,000 salary. Put in a low offer anyway. What have you got to lose?

[ahundredtimes]

Super bunty. And Charley. And I'm afraid I even read the agents details. I love them - the garden a place for the family to 'relax, play and learn'. Crikey.

Don't be distracted by all their lovely things though. They will go with them remember.

[ELR]

dh earns slightly more and we have just sold have 130k equity and no way could we afford that mortgage. admit it is nice though
why do you need to go from 2/3 bed to 6 would a 4 bed not be more achievable finacially