Mortgage

[EFCSmigg]

Just seen a lovely apartment for sale in L1 opposite the Hilton with great views and I've been thinking about moving out for a while with my girlfriend.

I've been doing research on them and just don't understand them at all!

The apartment is 269,000 and we can put a 40,000 deposit down which I understand means we need to take out a £229,000 mortgage, correct?

I went on Halifax, Santander etc and they are all saying I would need to pay roughly £1,272 per month which is £636 each per month we would be paying.

Now this is the thing but bare in mind I don't know how to word it correctly so please forgive! the apartment is brill and I don't understand why everyone doesn't just live in places like that instead of not very luxury.

600pm sounds quite cheap for a brilliant apartment in the middle of L1. Obviously with everything (TV etc) it would come to about 800 we would pay EACH but even that sounds good for the views etc.

Is this correct or just completely wrong?

 

[noharmdone]

Be a nice start to the New Year that.

 

[EFCSmigg]

Be a nice start to the New Year that.

Just need to get my head around it all first mate haha!
Don't have a bloody clue.

 

[Minimeister]

That sounds a hell of a lot mate! Was talking to mate at X-mas and he said he's been offered a 4 bedroom house for 700 per calendar month, it is in Moreton though. So in summary, buy a cottage.

 

[EFCSmigg]

That sounds a hell of a lot mate! Was talking to mate at X-mas and he said he's been offered a 4 bedroom house for 700 per calendar month, it is in Moreton though. So in summary, buy a cottage.

Does it? She is willing to pay half the mortgage per month so thats 636 each.

Not planning on having a family tbh.

 

[Blue 1]

Speak to an independent mortgage advisor.

 

[Minimeister]

Does it? She is willing to pay half the mortgage per month so thats 636 each.

Not planning on having a family tbh.

if you can afford it mate and she's willing to pay half then go for it. Although not many can afford paying that monthly as well as your bills and the general cost of living.

 

[Woolly Blue]

Speak to an independent mortgage advisor.

^^^ this ^^^

In the meantime

How much are the two of you paying in rent ?
How much cash do you have left at the end of a typical month ?
Assuming the mortgage is going to be more than your current rent does what you have left at the end of a month easily cover the difference ?

 

[Kurt.]

Take into account, gas, leccy, council tax, water rates, tv licence, sky tv subscription ( if you have ) ...... All adds up mate.

 

[EFCSmigg]

thanks lads

swerve that one then, Missus will need to go for something a bit cheaper! Its in that one park west if any of you have heard of it.

There is quite a few going for 200,000 which sounds much better considering we can put down a deposit. She is after quite a spacious apartment but I'm just bothered about the views.

 

[Minimeister]

thanks lads

swerve that one then, Missus will need to go for something a bit cheaper! Its in that one park west if any of you have heard of it.

There is quite a few going for 200,000 which sounds much better considering we can put down a deposit. She is after quite a spacious apartment but I'm just bothered about the views.

she's got a load of money but a big fat arse then.

 

[EFCSmigg]

she's got a load of money but a big fat arse then.

haha! They just care about the luxury mate. I'm a tight get as well so cheaper the better mate.
Shes got a Chihuahua and carries it round in her bag, says it all mate.

 

[BigDunc'sFod]

Mate I just bought a house in New York and my mortgage is not that far from what you'll be paying for an apartment

Sounds steep to me

If you want a view, just get the bus into town every now and again or move to Birkenhead

 

[Moonlight dribbler]

Just seen a lovely apartment for sale in L1 opposite the Hilton with great views and I've been thinking about moving out for a while with my girlfriend.

I've been doing research on them and just don't understand them at all!

The apartment is 269,000 and we can put a 40,000 deposit down which I understand means we need to take out a £229,000 mortgage, correct?

I went on Halifax, Santander etc and they are all saying I would need to pay roughly £1,272 per month which is £636 each per month we would be paying.

Now this is the thing but bare in mind I don't know how to word it correctly so please forgive! the apartment is brill and I don't understand why everyone doesn't just live in places like that instead of not very luxury.

600pm sounds quite cheap for a brilliant apartment in the middle of L1. Obviously with everything (TV etc) it would come to about 800 we would pay EACH but even that sounds good for the views etc.

Is this correct or just completely wrong?

Have you or your partner had any adverse credit? Check your credit report and see an independent mortgage advisor.

 

[degsy]

if you can afford it mate and she's willing to pay half then go for it. Although not many can afford paying that monthly as well as your bills and the general cost of living.

not that it will for a minute, but just incase get a legal split / prenup sorted. CYA