One of the first questions most people ask us is: “How much can I borrow for a mortgage?”

The answer depends on more than just your salary.

As a general guide, many mortgage lenders will consider lending around 4 to 4.5 times your annual income, but this isn’t a fixed rule. Depending on your circumstances, some lenders may be prepared to lend more, while others may offer less.

When assessing how much you can borrow, lenders can look at things including:

• Your basic salary and other income
• Overtime, bonuses and commission
• Whether you’re employed or self-employed
• Loans, credit cards and other financial commitments
• Childcare and other regular expenditure
• Your credit history
• The size of your deposit
• The mortgage term
• Your age and circumstances

This is why two people earning exactly the same salary can potentially be offered very different mortgage amounts.

Our small team of experts are here to guide you every step of the way. No jargon. No hidden agenda. Just mortgage advice you can actually understand.

Contact us now

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR PROPERTY.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Most Buy to Let and Let to Buy mortgages are not regulated by the Financial Conduct Authority.