To be fed up re "mortgage advise"?

[Nicknamegoeshere]

Long story short, my fiancé and I rent a decent three-bed in a village. I have two boys half of the time (10 and 13, shared care with my ex-husband) and a new baby with my fiancé. Boys have their own large rooms and baby is in with us (comfortably, and we bedshare).

I'm currently on mat leave but we both work ft - he in social care, myself in education. Combined take-home salary around £2,600-£3k or thereabouts per month between us.

I have some money from my divorce which I have saved for a deposit when the time is right to buy.

But my mum keeps going on about us getting a mortgage. Shes seen a three-bed house down the road on the market (could be converted to four bed) for offers in excess of £250k. It requires a lot of work and my OH is crap at DIY so that's already at least an extra £10k on top.

I've told her it would a pretty crap mortgage offer on our earnings and of course we'll have childcare on top when I go back (which I am planning to, but part-time).

They are not badly off themselves but haven't offered to help and that's fair enough.

Don't get me wrong, we don't want to be renting forever, but she won't listen when we say right now is not the right time!!

Tell her on that combined wage she needs to be looking at 100 grand cheaper than she is. It’s over egging how low a mortgage offer you’d get but it drives the point home.

With that combined income you're looking at around £150k mortgage maximum. Unless your deposit is £100k then you can't afford it.

It's a decent deposit, but nowhere near £100k, @Slippy78.

I agree with you, @PatriciaPerch. Our Landlords are superb and very supportive - my dad used to work with our Landlady so they are known to the family. When I told them I was pregnant they said they wouldn't be putting the rent up as I'd be on mat leave and that they are grateful we keep the house so nice

I do feel there is a stigma with privately renting and that's unfair really. We both work very hard, just in not very well paid jobs!

My mum doesn't realise how crap our mortgage offer would be!!!

@Slippy78 I thought it was 5x the combined annual income which would be nearer to 180k mortgage? + what ever deposit the OP has. misses point of thread

@Eatyourbanana I'd be interrested to know. However, our combined annual income will obviously go down when I return to work as will only be pt and with childcare. My mum has offered to have her for some of the days but that depends on her health as she's been poorly. We're older parents so older grandparents too.

I’m off on a tangent but why is it that the man does the diy? Or is expected to. I’m a female. I do all the work building, plumbing, electrical. I pretend to be a man when I’m on building forums because it’s what’s expected. I know this is not the point of your post though so as you were.

Advice

@Cissyandflora It's not necessily always the case of course, but I do most of sorting the kids in our set-up, especially as the older two are mine and I'm breastfeeding the baby. So OH would have more spare time to DIY. And we're both equally as poor at it!!!!

@Alvinne Baby brain but thanks for your helpful contribution

Ha ok. I’m also a single mum but I’m aware I’m quite unique!

I agree - my husband actually asks any tradespeople we have in to talk to me as I understand their questions and he doesn't. I also do the majority of the actual DIY...

Re. your mum, OP, I'd just keep going with "This isn't the right time for us. So much is up in the air at the moment."

I do the DIY and I'm female My OH is crap at it

R.e the house issue, simply resolved by either telling her the budget you're looking at or saying we're not Interested in buying right now.

She might just be trying to be helpful by suggesting somewhere? She dosnt know your budget so can't be expected to give exact options, she's probably just guessed.