Seeing mortgage broker today, is my below breakdown realistic to put forward?
I’m looking at purchasing a shared ownership home on my own for me and my 2 small children (50/50 with their dad)
These are my calculations below:
310k house full market value
Buy 60% share £186k
Mortgage £110k over 30 years 5.5% £625/month
Deposit £77k (from below savings)
Rent on 40% share £284/month
Total housing cost £909
Income £1800-1850/month
(+£176 child benefit)
After housing £891/£841
(£1067/1017)
Savings
£2642
£42063
£45125
Total £89804
u/Flimsy-Nothing5760 — 4 days ago