# Climbing up the property ladder



## Guitarjon (Jul 13, 2012)

Lots of threads around the net about first time buyers. We were lucky enough a few years ago to get enough money for a deposit to purchase our first house.

Our current house has a value of around 95k. It was purchased for 92k a few years ago. 

To be honest, the house we are in is a nice house, we've got it how we want it, it has 3 bedrooms (2 very large) and an attic room which does give he house a fair bit of space. However, the downside is that the area isn't the best. We've never had any bother but would like to move up so to speak. 

My plan had been to be able to keep the house and buy another whilst renting the current house but my work situation has changed which will mean we won't be able to afford two mortgages if the house spends a few months un rented. Also, judging by the tennents local neighbours have had there could be a bit of cleaning to do and midnight flutters. From my own research it doesn't appear that we'd be able to do this because of our income situation. 

So can anyone tell me if anything changes when buying a new house and selling current one. At the time we got our mortgage we could borrow up to around £130k (we just chose not to). Is this still going to be the same or have we built up some sort of trust with mortgage lenders or anoying? 

We were looking at houses at round 180-200k. The ones at around 130k are no better than the one we have in our eyes. 

My wife's wages have gone up quite a bit since our first mortgage but I no longer work full time. I'm current working on a supply teaching agency with no gaurenteed income. I'm also a house wife/ dad lol. 

If it's a non starter then I'll forget about it for a few more years. It just seems me and my wife were both having the same thoughts about a new house. 

We currently don't have savings to put down for a deposit as we've spent abit on house improvements recently and weddings and a baby (in the last few years). We've got a bit saved but currently as a reserve while she's on maternity leave. If we know what we need we will have something to work towards.


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## cossiecol (Jun 29, 2014)

Don't bank on getting the same amount as we found out! Granted I work for my self but in the 5 years since we got our first mortgage both our wages have increase considerably, however they wouldn't lend us much more than what we took out to begin with, not that we were looking to take that much out.

Times have changed and the banks have really tightened up lending. Go online and you could get a decision in principle on your mortgage and you'll be able to see what you could potentially get (subject to approval).


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