Should we buy a house now(UK)?
My boyfriend and I both hold full time job. He earn roughly lb15,000 a year, plus bonus of abour lb200 a month. I earn something like lb20,000 a year. We own save a deposit of lb14,000.
House prices around here are something like lb130,000 for a 1 bed or lb150,000 for a 2 bed. If we bought a house, could soemone let somebody know me how much we would stipulation to income per month amd also whether very soon is a polite time to buy property-or a unpromising one. Cheers!
Answers:
In your financial situation, you should know how to afford to buy a house, yes. As for the time, interest rates are rising, so you obligation to achieve a fixed rate mortgage or your repayments may walk up by hundreds of pounds per month relatively effortlessly. Fixed rate mortgages will seem to be a worse promise, but they are much more safe and sound and you are far smaller quantity expected to enjoy the house repossessed due to rising interest rates. House prices could ably drop, but that's other a risk. The discount is within all right shape at the moment, so I conjecture it's a risk worth taking. Get some TRUE financial guidance first though - I'm no financial guru (yet).
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House prices around here are something like lb130,000 for a 1 bed or lb150,000 for a 2 bed. If we bought a house, could soemone let somebody know me how much we would stipulation to income per month amd also whether very soon is a polite time to buy property-or a unpromising one. Cheers!
Answers:
In your financial situation, you should know how to afford to buy a house, yes. As for the time, interest rates are rising, so you obligation to achieve a fixed rate mortgage or your repayments may walk up by hundreds of pounds per month relatively effortlessly. Fixed rate mortgages will seem to be a worse promise, but they are much more safe and sound and you are far smaller quantity expected to enjoy the house repossessed due to rising interest rates. House prices could ably drop, but that's other a risk. The discount is within all right shape at the moment, so I conjecture it's a risk worth taking. Get some TRUE financial guidance first though - I'm no financial guru (yet).