Q&A

Answer a question



27 January 2013

LET TO BUY.Im confused

Hi, in need of a basic guide to what we can borrow. I own a house worth 160k morgaged for 80k. Rented out for 700 pcm not including C/TAX. Wife house curently living worth 110K morgaged for 50k, can rent out for 550pcm. I earn 10k wife 15k. No other debts. I Have a 50k deposit also. 1 car. Our out goings are small. We would love to move house but are totally unsure what we can borrow, so confused. Ball park figure would be great if anyone could help. Thanks..

  • REPORT This comment has been reported.

2 Answers

Answers


Do you want to answer this question? You need to be signed in for this feature

Answer a question


Copyright © lovemoney.com All rights reserved.

 

loveMONEY.com Financial Services Limited is authorised and regulated by the Financial Conduct Authority (FCA) with Firm Reference Number (FRN): 479153.


loveMONEY.com is a company registered in England & Wales (Company Number: 7406028) with its registered address at First Floor Ridgeland House, 15 Carfax, Horsham, West Sussex, RH12 1DY, United Kingdom.


loveMONEY.com Limited operates under the trading name of loveMONEY.com Financial Services Limited.


We operate as a credit broker for consumer credit and do not lend directly.


Our company maintains relationships with various affiliates and lenders, which we may promote within our editorial content in emails and on featured partner pages through affiliate links. Please note, that we may receive commission payments from some of the product and service providers featured on our website. In line with Consumer Duty regulations, we assess our partners to ensure they offer fair value, are transparent, and cater to the needs of all customers, including vulnerable groups. We continuously review our practices to ensure compliance with these standards.


While we make every effort to ensure the accuracy and currency of our editorial content, users should independently verify information with their chosen product or service provider. This can be done by reviewing the product landing page information and the terms and conditions associated with the product. If you are uncertain whether a product is suitable, we strongly recommend seeking advice from a regulated independent financial advisor before applying for the products.