Did this freak anyone else out? I have to sell my property and, even though they are very motivated and a cash buyer, I’m concerned (or convinced) I won’t meet this deadline. How anyone had luck with extending it?
Sorry if the title doesn’t make sense, I’m still wrapping my head around all the terms!
I’d like to buy a property in SE England, however when I run my information through the SO affordability calculator, my total monthly payments to net mortgageable income ratio results at around 46-48% (fiddling with the deposit amount I have).
Are mortgage lenders/housing associations strict on the 45% ratio? Is it possible to negotiate it since it would be literally like 1-3% higher? It’s a tricky one as when I look at the total monthly payments, I know I could definitely afford it - it may be tough for a bit but I could manage my bills okay enough to afford it reasonably comfortably, but obviously mortgage lenders don’t consider that.
I’d really like a property of my own and SO seems like the only way right now without me moving into a worse-off area or property (nothing against that, I’m a single woman who would be away from family so security and feeling safe in an area is really important to me)
Thanks!!
We are in a position of a growing family and potentially moving outside London. We would like to keep our SO flat because we would like some of our London friends to rent it. Renting on SO is allowed on our building as ‘lodger’ agreement.
Anyone here on the same position? Or is it generally better to just sell the flat?
(UNSOLVED) Me and my partner could save to buy the share outright, to reduce our monthly payments significantly as it would only be rent and service charges.
How likely is it that a provider of shared ownership would allow this?