How much can you afford as a first-time buyer?

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Getting on the property ladder is no easy task, especially as a first time buyer. The latest article from giant Rightmove has some estimates that may help you in your decisions. For more information if you are a first time buyer in Ashford, Kent come in and chat to a member of the team at Evolution or call us on 01233 501601.

For example, based on our mortgage calculator (which can be found here), if you are buying by yourself and have an annual gross income of £30,000 and a deposit of £15,000, you might be offered a mortgage of somewhere between £96,000 to £135,000. This would equate to monthly repayments of around £510 to £710 per month – based on an annual rate of 3.90% over 25 years – and would mean you could afford a property in the range of £111,000 to £150,000.

rightmove.com

Full article here: https://www.rightmove.co.uk/news/articles/property-news/how-much-can-you-afford-as-a-first-time-buyer/

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