How much can i borrow FAQ's
How many times your salary can you borrow for a mortgage?
This varies from lender to lender, but the general rule of thumb is between 4.5 and 5.5 times your annual salary.
Let’s say you earn £35,000 per annum before tax, you could potentially borrow £175,000. There are lenders who will loan more that 5.5 times, but these offered to certain professions.
What is Mortgage Affordability and why does it matter?
Mortgage affordability is an assessment of all your financial data to work out how much is affordable for you.
This takes the basic calculation above but builds in many other factors such as your outstanding credit, how many children you have, how you have conducted credit accounts in the past.
Your Mortgage Advisor will run a full affordability assessment on you before we make a mortgage recommendation. This is a complex calculation and is the reason why we ask you for documents at the start of your relationship with us.
You should use the above calculator as a guide only.