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How to manage your own finances

If you're considering buying a house, then it’s worth sitting down and going through your finances. Weigh up your outgoings against what your monthly income is; this will give you an idea of how much disposable income you have and what you could potentially afford to pay out on a mortgage.

Below is an example of a budget planner, showing any fixed outgoings you might have against flexible expenses.

Feel free to use our template below to create your own budget planner and personalise it to suit your lifestyle.

Professional advice

By speaking with a mortgage adviser, we can help you plan your finances and determine how much money you have to put towards your mortgage, as well as looking at your monthly expenditure to see how much money you have left over each month.

If you're buying a house on your own, you might want to read our article 'how to get a mortgage when you're single', for some great hints and tips!

 

Income

Amount (£)

After tax

 

Fixed Outgoings

 

Mortgage/rent

 

Loans/credit card

 

Utilities

 

Insurance

 

Pension

 

Transport

 

Phone/internet

 

Flexible Expenses

 

Food shopping

 

Gym membership

 

Socialising

 

Emergency fund

 

Other e.g. Netflix, Amazon Prime etc.

 

Whatever's left

 

Savings

 

Because we play by the book we want to tell you that…

Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

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