Im 22 full time job, Support worker. I get £250 a week. My partner is 25 a lorry driver and he picks up £400 a week. We have been together for 5 years. Will they take us seriously? Im hoping for £150,000 mortgage. What would be a good amount to have in your bank when applying?
Use the calculator below to give you an idea.
If your partner earns £20,500 a year and you earn £13k a year, and if you can put down a deposit of £30k i.e. 20% (not unrealistic these days), and if you don’t owe anybody anything so you have no other debts that have to come out of your earnings, then you might be able to borrow between 100 and 140k. But it depends on your individual circumstances and some lenders might want bigger deposits, while others may want to charge you higher interest. It really does depend on your own situation and you have to speak to a mortgage adviser with a particular property in mind that they could quote you on.
Try to get rid of any outstanding debts and build up a good deposit though.