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Mortgage Bestbuys |
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| What is the most you can borrow? | ||||
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Lenders use different methods to determine how much you can borrow, therefore the amount that you may be able to borrow will be different between lenders. The most common method is a multiple of salary, say 4 x income or in the case of joint borrowers 4 x highest income plus 1 x lower income. Multiples will vary between lenders too. A more modern approach is based on affordability. The highest loans are usually made available to people with low credit commitments and higher than average levels of income. Sometimes mortgages of 5 or even 6 x income is possible Notes for using the calculator above.... Replace the data entered with data that reflects your requirements. Avoid using anything other than digits (e.g. no commas, £, full stops). The results are not definitive and there is no guarantee that you could borrow the amount calculated - they represent what is typically available in the market place. Your specific circumstances may get you more or less than the amount quoted. We would be delighted to hear from you either by telephone (call us free on 0800 019 6624), email or through our enquiry forms. Thank you for looking.
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