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Buying a property in the UK first time buyer

J

j1441

New Member
Factors to consider:

1) My name is on a family members mortgage as part of a buy to let. Done so the mortgage would be approved.

2) My income £62k (before tax),Not many bills at all as live with family/ no car. Live in London.

3) Deposit saved £100k

Im looking to buy a house between £500K to £600k in London alone. My plan is to live upstairs with the downstairs on rent.

I realise the maximum I can barrow is 5x my salary £300k which is not enough.

Can anyone please suggest any ideas on how I could go about this with my factors into consideration? Interest only mortgage or a way into first time buyer help scheme?

Advice would be much appreciated.
 
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