Single Mortgage as a Train Driver

[thetom22]

Could an experienced Train Driver's salary (£30,000+) be enough to support a single mortgage?

 

[Spankthemonkey]

Could an experienced Train Driver's salary (£30,000+) be enough to support a single mortgage?

Very much so, get yourself a free broker, there are loads about, you can get as much as 4.2 times your salary.

 

[causton]

a) For what?

b) Yes.

An experienced Train Driver will earn more than that, and as someone whose headline salary is a lot less than that, and has a mortgage by themselves, yes!

 

[Sinistah]

Santander does 4.45x your salary. Best thing to do is go on the online calculators or go and see them in branch and book an appointment.

 

[hi2u_uk]

Santander does 4.45x your salary. Best thing to do is go on the online calculators or go and see them in branch and book an appointment.

Pop into a bank branch Is this possible

 

[Sinistah]

Yes I’m a mortgage adviser mate. However depending on what bank you go to you will have to make an appointment

 

[Sinistah]

If the adviser is free they can have a quick chat

 

[FOCTOC]

Could an experienced Train Driver's salary (£30,000+) be enough to support a single mortgage?

It depends on where you live and wether you are eligible, also you'll be needing some form of deposit. Presumably Ive a few years on you, but im paying a mortgage of just over £1000 a month at the moment (having bought my ex partner out) on a house worth about £300k. Then again, my salary is considerably more than £30k. I cant think of a single TOC/FOC paying less than £40k so you'll have a bit more money than you think - £30k was 20 years ago for a driver.

 

[GB]

Could an experienced Train Driver's salary (£30,000+) be enough to support a single mortgage?

Mortgages are obviously not quite as black and white...depends on your personal circumstances such as current monthly outgoings/commitments, whether you already have a deposit and how much, the value of the property etc etc. However in theory yes you should be able to get a mortgage for some kind of property at £30k+ p.a

 

[DarloRich]

Could an experienced Train Driver's salary (£30,000+) be enough to support a single mortgage?

in theory yes. A lot depends on your personal circumstance sand financial history. Get yourself an IFA and crack on.

 

[talltim]

As I earn quite a lot less than that and have a mortgage, yes...

 

[Dai Corner]

in theory yes. A lot depends on your personal circumstance sand financial history. Get yourself an IFA and crack on.

+1

IFA = Independent Financial Adviser. 'Independent" being the important bit. The mortgage adviser at your bank or the estate agent can only sell you one from their range. The IFA will look at the whole market and find the best ones for your particular circumstances. And often charge you less too.

 

[DarloRich]

+1

IFA = Independent Financial Adviser. 'Independent" being the important bit. The mortgage adviser at your bank or the estate agent can only sell you one from their range. The IFA will look at the whole market and find the best ones for your particular circumstances. And often charge you less too.

thanks - a useful addition and one i should have thought of!

 

[IanXC]

+1

IFA = Independent Financial Adviser. 'Independent" being the important bit. The mortgage adviser at your bank or the estate agent can only sell you one from their range. The IFA will look at the whole market and find the best ones for your particular circumstances. And often charge you less too.

Although of course there are "whole of market" IFAs, and "selected panel" IFAs. Its always worth having at least a brief look around yourself to validate the advice you have been given before signing up. Additionally, less scrupulous advisers may have their advice distorted by the varying level of introduction fees between providers...