We were originally going to buy a house as part of a shared ownership scheme but have decided against it and pulled out. We are now thinking of relocating 30-60miles elsewhere so we can afford a conventional mortgage.
Currently living with our inlaws. Thinking of starting to look to buy a house in November now with the aim of moving sometime in the first half of 2021. My partner and I not married. 3 v young children who I look after, youngest is a baby, eldest starting school this sept.
Partner earns 31,500. Deposit of £115k in partners bank account.
No credit cards or monthly payments, no childcare costs.
Based on the mortgage affordability calculator for a single mortgage with 3+ dependants its quoting between 130k-140k depending on the lenders.
He will obviously be going to a broker when the time comes but how likely is it that with our circumstances he is able to get around 130/140k with so many dependants? Does anyone have any insight or experience?