[retired_Nikelesy]

Im moving out early next year with my Girlfriend.

I have saved up £10,000 for a deposit for a place, and my girlfriend will be starting a new job. She will only be on around £24,000 to begin with and I wont be working, as Im at Uni full time.

Whats our best option for moving out? Will we be able to get a decent mortgage in her name?

Should be just wait another year until I finish Uni and get back into work?

Or shall we just rent?

[retired_sahin]

probably get a £100k mortgage with £24k a year.

so probably best worth renting til you get a job.

[retired_mountainsong]

I imagine you would get an awful mortgage with that kind of income, even if you borrowed something like 110% dont you only get something like 3 or 4.25 times the income?

You live near me iirc? you'd end up somewhere like kidbrooke with that wage. Should rent, nice flats in bexley and dartford for about 700 a month

[san]

Sadly I think the best choice at the moment is to fork out a fortune in rent and keep your fingers crossed for a property price crash before too long.

[retired_frogchickie]

700 a month :o blimey

we've just moved into a nice 2-bed semi in a nice area of boro (yes, they do exist ) for £525 pcm

we were paying 675pcm for a 2-bed flat which was extorionate

i thought you could get 5 or 6x your salary these days

[retired_gilgamesh36]

Originally posted by BoroPhil:
i thought you could get 5 or 6x your salary these days

You could until the Northern Rock crisis.

[retired_dogs2son1]

You still can get 5x 6x your salary. Just depends who you go with.

Interest rate cuts on their way apparently, which'll help a smidge.

[retired_kevh16]

Originally posted by BoroPhil:
700 a month :o blimey

we've just moved into a nice 2-bed semi in a nice area of boro (yes, they do exist ) for £525 pcm

we were paying 675pcm for a 2-bed flat which was extorionate

i thought you could get 5 or 6x your salary these days

Yeah but thats middlesborough.

If you're paying that much in London its most likely got a crack den next door and no central heating.

[retired_justin05]

Probably not a bad time to buy if you can get a mortgage as people are struggling to sell atm so you could make a few outlandish offers and see how it goes. Once interest rates drop the market will get tougher for buyers.

[retired_Nikelesy]

Originally posted by Gimp_Basket_Smiles:
I imagine you would get an awful mortgage with that kind of income, even if you borrowed something like 110% dont you only get something like 3 or 4.25 times the income?

You live near me iirc? you'd end up somewhere like kidbrooke with that wage. Should rent, nice flats in bexley and dartford for about 700 a month

Yeah I live near you. Was thinking of renting in Bexleyheath or Sidcup if it comes to it. But its just waste money really.

Though could be a good thing, do it for 9 months, just to see how I get on living with my girlfriend.

Wish prices were like they are up north, London is too expensive for sure