Mortgage

I roughly calculated that 5,000 divided by 360 months would be 7.23 per month BEFORE interest, insurance, etc. I used an online mortgage calculator and was informed my monthly payment was over 4 per month! How is that possible even when including the 6% fixed interest rate, insurance, etc? When I search real estate websites, [...]

Hi – sorry for a seemingly daft question but I’m getting confused.
Mortgages are typically between 80-90% of the House price. So if I have say: £50K deposit, I could potentitally afford a £500K house.
If I then use a Mortgage Calculator and I put in my salary (say 30K) then I’m told I can borrow around [...]