How much of a morgage do you think I can get

[bumface]

Hello,
I have always rented and I haven't got the first clue about morgages, but have always wanted to own our own home one day.
Well it looks like I am going to inherit some money in the near future and I wonder if now is a good time to take the plunge.

I currently pay £600 pcm in rent, thats as much as I could afford to pay. If I have a deposit of £30,000, how much of a morgage do you think I could get?

Am I asking an impossible question?
Oh and I don't have any debts.

it will depend on how much you earn and your other outgoings

How much do you earn?

Also it will depend on the percentage deposit the lender want

It depends on the house you want, and your salary.

Halifax.co.uk has a good mortgage calculator that can give you an idea on how much you can get. Once you get the idea, get a mortgage advisor to find you the best deal.

Thank you.
I'm self employed, so my money goes up and down and I get WFTC.
I'll have a look at the Halifax thing, thanks.

You will struggle getting a mortgage when self employed unless you are making a lot even in "bad" months.

Look for high interest accounts to pop your inheritance into, starting with ISA and start up a regular savings account where you should save every month out of your wages - think about maintenance costs, rates, insurance etc that you dont have to pay on rented property but will on one you own.

I live in NI so our rates etc work differently, but Id imagine you would need at least £250-£300pm extra. If you cant put that much aside into savings accounts now, you arent ready for a mortgage. If you can, do it for a while and then when it comes to buying you will have a nice extra deposit to put down, and make your mortgage lower.

Thank you Mousey,
I thought it was pie in the sky. Sounds like it probably is.