Wednesday, August 10, 2011

Mortgage advice please. I am selling a property at profit and looking to buy a more expensive property...?

Mortgage lenders are getting tight on their lending. You can therefore expect to borrow 5 x your salary. �92,500. Add your deposit from the profit on your current flat - less legal fees, moving expenses etc - say �10K - and you would be short of the new purchase price. You neeed to shop around, first with your current lenders, your own bank etc. You may get more than 5 x's. At 32, age is immaterial. Best of luck.

No comments:

Post a Comment