Me and the other half as long as everything goes ok, as i am trying to transfer my law degree down to London from Coventry, then we shall be better off financially.
Thu we were going to save some money up to maybe in a couple of years put a deposit down for a property and get a mortgage...however we are now thinking that we know if we have the money we will use it for things like holidays and improvement etc.
So our latest thought is to maybe go straight into a mortgage and not save. Thus i would like some advice as i am only 21 and she is 20, i am currently a student and as long as i manage to transfer my income per annum will be a minimum of £8k (not much i know) and as long as she gets the job she just been interviewed for and theyre chasing up references she should be on £18k (for a level entry job!).
So a total £26k pa.
We shall be living in a home where my other half looks after a family member and thus do not pay any rent, any electric or gas or phone bill. Thus the only bills will be food, sky, mobile phones.
So as you can guess were not looking to live in it, but to buy to let.
So my questions to all that can help/advise...
what sort of mortgage do you think we could get?
what do we need to consider?
what sort of deposit?
is a shared ownership a good idea?