Calculating a UK mortgage
The first thing a new homeowner needs to know is how much mortgage you can afford.
You need to think about what you’ve got in savings and figure out ho much you’ll need to take out in the form of a mortgage. Talk to a lender to get and authorization in writing that tells how much the lender has agreed to loan you once a property is found.
Most places will ask for a deposit that is ten percent of the property value. The deposit needs to be an upfront payment and it must be available to you before you get the mortgage.