Mortage help please

[Hobby2014]

How much is your mortgage each month and how big/small is your house/flat? Do you have a garden?

DH earns approx. £2100 a month. Im currently on maternity leave but am planning to go back to work ridiculously part time, 8 hours a week ish, just to keep my foot in the door. So say total income will be £2300 a month.

We pay just under £400 a month to rent a one bed flat from the council. I keep seeing part buy/part rent places for similar amounts. We could really do with somewhere bigger and with a garden (have a DS, but would like at least one more if not two). But couldn't afford much more than around £500 a month. (We could but wouldn't be able to save and would worry more and might not be able to have any more DC iyswim?)

Just wondered how is best for us to get on the property ladder and if its doable. Or if its best to stay put and wait to see if the council are able to move us to a larger property? I have no idea about mortgages though. Would part buy/part rent be a good idea? Would we even get one?

I just want to be able to give DS a garden, his own bedroom etc

Any advice or help will be appreciated!

To be honest I'd stay put. Owning houses is expensive and given your household income, I'm not sure it would be affordable for you. Do you have a deposit saved?

As you have the security of a council tenancy, I'd be loath to give it up. You could do a swap if needed when you have more kids?

What is the real reason you want to own?

Thanks for replying!
Space is the main issue and ease of going out. We live up 3 flights of stairs so is a pain just getting out and about. He really needs his own room as its tight for space now and he's not even a year old, its only going to get worse. And I feel sad that he probably wont have a paddling pool or sandpit or swings as we'll need a garden.
We have about 4k saved but that's it.
We're eligible for a two bedroom from the council but I don't know how long its going to take. We bid each week but there are usually 40-70 people ahead of us for anything we bid on. I thought it would start going down but I suppose for everyone they get homed, a new family probably joins the list.

We pay about £900 per month for a 4 bedroom detached with quite a small garden. We take home about £3200 per month.

We pay £500 a month for a 3 bed 2 reception room large terrace house. We have a yard, parking on the street outside and it's a cul de sac.

We were paying £485 for a 1 bed flat. Buying was the best thing we ever did. We've just started a new mortgage deal and our loan to value has gone down from 90 to 85% in that time.

Oh and take home between me and DH it's just under £2500

Sorry meant to say in in 5 years we've gone from 90-85%

Thanks both. It sounds doable to me but then don't know if we want the added stress/pressure and what if it all goes wrong?

I'm wondering wether it could be possible to buy a sofa bed for living room and me and DH sleep there and leave our wardrobe in bedroom and turn rest of bedroom into DS's bedroom. I'm sure I've read on here a few people did this. Decent sofa bed though. Just wonder what it's like to live like that everyday though?

Our mortgage when it was 55K (we've moved so it's higher now) was £300 per month. What sort of price of part buy part rent are you looking at? Remember that once you start paying off a mortgage, that also acts as a sort of 'savings' pot too.

It's important to remember that interest rates are very very low at the mom et, so you would want to consider affordability if (when) interest rates go up.

Our mortgage is 118k and £525 a month, in the north east though so for that have a 3 bed detached with gardens and garage.
total income between us is just short of £2500.
hope that helps.

What we pay is irrelevant though - many of us bought 5, 10, 20 or 25 years ago.
We also all live in all parts of the UK (and indeed, there are many overseas MNers).
The questions you need to ask are
How much can we borrow?
What will that cost us?
and
Is there anything near enough to work, that we could buy, for that amount?
If not, is moving to a cheaper part of the country a viable option.

Our income is very similar to yours and we pay £450 a month. Our house is small, 2 bedrooms and cost just over £80000 3 years ago.

It will all depend on house prices in your area. mortgage lenders are becoming increasingly strict with their lending criteria. i would save a decent deposit and wait a couple of years or until your earning potential can increase.