This is one that a lot of people don’t look into, but it’s very important to do so. First of all you will need to find out how much equity you have in your current home and make sure you can afford to sell. Some mortgage lenders may charge an early repayment charge on your mortgage and therefore this should be considered.
If you are buying a new home then you might want to consider the size of the mortgage you require and how much deposit you have. Always speak to a qualified mortgage adviser who can talk you through your finances and help to understand what you can afford.
Don’t rely on an online calculator as this assumes a huge amount of information. A lot of people we talk to can either afford a lot more than these calculators suggest or a lot less. Contact us today to speak to our mortgage adviser.