Hi
Advice please! We phoned Santander and on our joint earnings of 38k they could lend us 148k. This seemed a lot to us and not sure if this was them plucking numbers out of thin air? We have childcare costs of 500 a month which will drop by 200 once eldest goes to school this year. We have approx 65k equity in our current property.
We had hoped to get a mortgage of around 125k to buy a house at 190k.
My mums friend works for a FInancial advisor. She has looked at our figures and said we can only borrow 98k. Can I presume from that, that she has checked Santander etc and is better informed as to what we can get? I don't really want to question her as she has got the figures together as a favour.
Are there any mortgage lenders that tend to lend more than others? Is it worth contacting Santander to ask them to double check their figures?
Sorry, I find mortgages so confusing.
Many thanks
Advice please! We phoned Santander and on our joint earnings of 38k they could lend us 148k. This seemed a lot to us and not sure if this was them plucking numbers out of thin air? We have childcare costs of 500 a month which will drop by 200 once eldest goes to school this year. We have approx 65k equity in our current property.
We had hoped to get a mortgage of around 125k to buy a house at 190k.
My mums friend works for a FInancial advisor. She has looked at our figures and said we can only borrow 98k. Can I presume from that, that she has checked Santander etc and is better informed as to what we can get? I don't really want to question her as she has got the figures together as a favour.
Are there any mortgage lenders that tend to lend more than others? Is it worth contacting Santander to ask them to double check their figures?
Sorry, I find mortgages so confusing.
Many thanks