Mathematics, 08.06.2020 10:57 Queenhagar

Emma and Max want to buy a house together. Emma earns £18,500 and Max earns £22,500. They have £6000 savings.

They want to buy a house that is being sold for £130,000.

They will pay the deposit with their savings and take out a mortgage to pay for the rest.

Emma and Max can borrow 3 times their combined incomes as a mortgage.

They will need to pay 5% of the selling price of the value as a deposit.

How much can they borrow as a mortgage?

Answers: 3

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Emma and Max want to buy a house together. Emma earns £18,500 and Max earns £22,500. They have £600...