Council Right To Buy, but do I earn enough to get a mortgage?

Posted on 15 January 2013 by Lee


My girlfriend can buy her council house valued at £100k for £80k and has 50% discount and £15k deposit needing a £25k mortgage. Can you help as she has a low income thanks Lee.

Lee,

Without knowing the details of your girlfriends income, it's difficult to give any exact guidance, however as a general rule lenders will look at around 4 - 4.5 x income, so she would need to be earning around £6,250 p.a. to hopefully be able to get the mortgage she needs.

If you or your girlfriend would like to discuss the case in more detail, then please let me know and I'll arrange for one of our consultants to contact you.

Regards,

Simon

simon.collins@johncharcol.co.uk

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