Had a bit of interesting mortgage advice recently
On a shared ownership property I was told by a large independent mortgage advice company that based on my £1,600 salary i can afford to pay £1,000/month for a property - thats just the mortgage, rent, service charge.
By my estimation once I pay council tax, bills, and i don't know... occasionally leave the house for work i'd have less than nothing left!
I was a bit surprised they took none of this into account... i can only afford max £800/month in my humble opinion, and then with bills etc on top i'd still feel a bit hard done by.
Are they wrong? or am i wrong?
On a shared ownership property I was told by a large independent mortgage advice company that based on my £1,600 salary i can afford to pay £1,000/month for a property - thats just the mortgage, rent, service charge.
By my estimation once I pay council tax, bills, and i don't know... occasionally leave the house for work i'd have less than nothing left!
I was a bit surprised they took none of this into account... i can only afford max £800/month in my humble opinion, and then with bills etc on top i'd still feel a bit hard done by.
Are they wrong? or am i wrong?