time for a series of my thoughts to be written down. apologies in advance…
right time to explain further. I just wanted a rough idea of potential mortgage size as i’m trying to decide what to do. i can rent, but then that seems like throwing money away when it could be used to pay towards the value of a house. house prices seem low at the moment, and i thought they were due to be picking up in the next few years. If i buy a house i will be able to let out a room (or two if i can afford one big enough) to a friend(s) which will help to pay towards the mortgage. Ill be in the area for a least 3 years as its that long until i get qualified. deposit can potentially be in the region of 50K. from quick searches on tinternet id be looking at something in the region of 140-160k for a flat in an area I want to live in. renting a similar property is about 600 per month.
Is getting a mortgage of that size going to be possible with said deposit, wage and the parents acting as guarantors?
EDIT: oh and wage should be in the region of 35k after 3 years so long as exams are passed if this would affect it in any way?