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AIBU?

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Original poster

To think I’ll never be able to afford to buy on my own…

151 replies

Childmaintenanceq1 · 29/04/2025 20:07

Age 40…divorced
earn 50k…
I have approx 130 cash
bank will lend me 180 🙄 and that’s not even for sure…

So that’s max price of 310…there’s nothing in my area even close to that, I need 3 beds as I have two dc…bloody hell!

I thought that I was in a good position…obviously not!…just having a moan.

OP posts:
Original poster
Childmaintenanceq1 · 30/04/2025 15:27

MiddleAgedDread · 30/04/2025 15:00

If you're paying £1400 a month in rent, then in theory you can probably afford more than a £180k on a mortgage. £1400 repayment on a 25 year mortgage is more like a £250k mortgage at 4.5% interest rates. That said, you'll need some of your cash for stamp duty and legal fees as well as a deposit, but it might give you a bit more leeway.

I could probably afford it but it doesn’t look like I’ll get it to be honest…I save a couple hundred each month too so we’ll see…

OP posts:
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