mortgage

[goldheart]

I am currently splitting up with boyfriend, however I live in his flat and am the one moving. I am looking to rent at the moment but am querying buying. How do you calculate what the bank will lend these days? It used to be 3.5 times your salary, but have heard different things.... I am on �19,600 per annum and live down south so if this is the case then I wont be buying much! Also, anyone heard of the part rent/part buy scheme?

[WendyS]

Goldheart - Sorry I'm not in a position to comment on the lending/salary ratio but I believe most of the part rent/part buy schemes are operated by the local authorities for to help individuals in certain skill shortages cateories such as teachers or nurses.  If you fall into one of these cases your local authority might be able to give you some more information. 

[sandras]

Yeap down south is very expensive, clearly to own your own space is better than renting and getting on the property ladder sooner rather than later is always the best step to take.

If you need help with sourcing a good mortgage broker - get in touch

Best of luck