{"id":108192,"date":"2019-06-17T13:00:37","date_gmt":"2019-06-17T06:00:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/im-a-first-time-buyer-do-i-earn-enough-to-get-a-mortgage\/"},"modified":"2019-06-17T13:04:00","modified_gmt":"2019-06-17T06:04:00","slug":"im-a-first-time-buyer-do-i-earn-enough-to-get-a-mortgage","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/im-a-first-time-buyer-do-i-earn-enough-to-get-a-mortgage\/","title":{"rendered":"I'm a first-time buyer \u2013\u00a0do I earn enough to get a mortgage?"},"content":{"rendered":"


\nI\u2019m worried that the repayments on my help-to-buy loan will count against me with a lenderQ I hope you might be able to provide some insight for me as I begin my (optimistic) search for a first property. I\u2019m 26 years old and single and a couple of years\u2019 ago, I received a \u00a3150,000 inheritance. I have sat on it since then but have finally come to the decision to buy a one-bedroom flat in London. I was renting until a month ago but am now back living with parents to give me a chance to save enough money for legal costs and furniture while I navigate my options.I am also in the process of finding a new job and expect to have a salary of \u00a332,000, once I have been in the job three months. So sometime in October or November I hope to be in a position to buy a property using the help-to-buy scheme. I expect to pay about \u00a3400,000 split 37.5% deposit, 37.5% help-to -buy and 25% mortgage. I\u2019m nervous that although I would could get a mortgage of 25% of the value of the flat, there\u2019s no guarantee that my salary will increase enough to cover the repayments when they kick in on the help-to-buy equity loan in five years\u2019 time and this may effect my chances of getting the mortgage. I have separate funds that will cover the stamp duty and upfront costs and so on, so this is not an issue. I\u2019m very lucky to have this deposit but due to my salary I\u2019m not sure home ownership is available to me.LH Continue reading…
\n
\nSource : theguardian.com
\nRead more…I’m a first-time buyer \u2013\u00a0do I earn enough to get a mortgage?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I\u2019m worried that the repayments on my help-to-buy loan will count against me with a...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-108192","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-s92","jetpack-related-posts":[{"id":140715,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgage-rates-are-dropping-heres-what-to-expect-in-2024-if-you-want-to-buy-a-home-experts-say\/","url_meta":{"origin":108192,"position":0},"title":"Mortgage rates are dropping. 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And it's not just Auckland - for the first time since...\r \r Source :\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89696,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/england-1-75m-private-renters-believe-they-will-never-buy-house\/","url_meta":{"origin":108192,"position":2},"title":"England: 1.75m private renters believe they will never buy house","date":"May 28, 2018","format":false,"excerpt":"\r Number of households not expecting to buy has grown by 50% under Tories, says LabourAbout 1.75 million people who rent their homes do not believe they will ever be able to buy, an increase of 50% since 2010.Analysis of the official English Housing Survey by Labour shows the number\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62924,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-diary-of-a-buy-to-let-virgin\/","url_meta":{"origin":108192,"position":3},"title":"The diary of a buy-to-let virgin","date":"July 24, 2004","format":false,"excerpt":"\r Are you mad to invest in a buy-to-let property at a time when prices are so high? 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