Me and my partner are first time buyers and we are currently looking at purchasing our first home. The area we are looking in has quite high prices and we are concerned about stretching ourselves. We are currently considering a property worth £335,000 and if say we can get it for £315-320,000, we could potentially afford the deposit of around 15-17% however will be looking to borrow around £260,000+. We are also considering family planning and the costs associated with this if my partner goes onto maternity leave. We are desperate to buy a property however do not want to get over stretch ourselves. The added problem is that we cannot discuss possibly monthly repayments until we make an offer however we don't want to then mess vendors around if we then pull out due to the mortgage. Do people have any advice on if this is too much borrowing?
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