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  • FIRST POST
    • tain
    • By tain 19th Mar 17, 7:54 PM
    • 442Posts
    • 587Thanks
    tain
    How much can I borrow?
    • #1
    • 19th Mar 17, 7:54 PM
    How much can I borrow? 19th Mar 17 at 7:54 PM
    My wife and I have very healthy credit files, zero financial commitments, etc. But the online 'how much can I borrow?' calculators vary wildly, and are obviously a 'best case' scenario. Are there any rules of thumb or places to go to find out what is actually likely? Without having a credit check on our credit files, that is.

    We're trying to plan ahead and know where to start looking, etc. while we save our deposit, but really don't have a good idea of what figure to trust. HSBC was over £50k more than Barclay's!
Page 1
    • glosoli
    • By glosoli 19th Mar 17, 8:02 PM
    • 465 Posts
    • 267 Thanks
    glosoli
    • #2
    • 19th Mar 17, 8:02 PM
    • #2
    • 19th Mar 17, 8:02 PM
    This might help give you an idea,

    http://www.nationwide-intermediary.co.uk/calculators/aff_calc
    • ekumi00
    • By ekumi00 19th Mar 17, 8:09 PM
    • 17 Posts
    • 5 Thanks
    ekumi00
    • #3
    • 19th Mar 17, 8:09 PM
    • #3
    • 19th Mar 17, 8:09 PM
    Best income multiple (salary dependant) 4.75 x income single or joint.
    • ACG
    • By ACG 19th Mar 17, 8:16 PM
    • 14,906 Posts
    • 7,502 Thanks
    ACG
    • #4
    • 19th Mar 17, 8:16 PM
    • #4
    • 19th Mar 17, 8:16 PM
    Assuming you enter the information correctly, you can trust them all. The figures can vary a fair bit.

    As a general rule of thumb you can get to 4.5x income. Some will be a little more, some will be a little less.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • AFF8879
    • By AFF8879 19th Mar 17, 11:31 PM
    • 208 Posts
    • 489 Thanks
    AFF8879
    • #5
    • 19th Mar 17, 11:31 PM
    • #5
    • 19th Mar 17, 11:31 PM
    My wife and I have very healthy credit files, zero financial commitments, etc. But the online 'how much can I borrow?' calculators vary wildly, and are obviously a 'best case' scenario. Are there any rules of thumb or places to go to find out what is actually likely? Without having a credit check on our credit files, that is.

    We're trying to plan ahead and know where to start looking, etc. while we save our deposit, but really don't have a good idea of what figure to trust. HSBC was over £50k more than Barclay's!
    Originally posted by tain
    I believe HSBC are much more interested in the first time buyer market than Barclays, I remember when I bought last year not only were Barclays rates awful but they couldn't offer me anywhere near what HSBC and many others could. They were basically just saying "we don't want your business" even though like you I had a perfect credit file.
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