We are a family of 2 adults (aged 41 & 40) + 3ch currently in a house valued at 295k, balance on tracker mortgage 220k. We have just finished paying off 2 loans so have no savings. We plan on giving it 6 months and hopefully should have savings of 10k before we go to the bank to look for mortgage approval. Wages are 56k and 36k. The cost of houses we are looking at are around 430-450k so the equity on our home should cover the 20per needed as 2nd time buyers. We have no child care costs. We have no issues with credit ratings, no missed mortgage or loan repayments, all bills paid on time, no overdraft as of now, credit card bills paid every month. Are we being realistic looking at this price range? Are the banks approving mortgages even with little savings??