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Salary multiples

samandmillie
samandmillie Posts: 215 Forumite
in Mortgages & endowments
Hi,

I just wondered if anyone knows about salary multiples. I've seen a house that I really like for £180k. I have £50k equity so would need a mortgage of £130k. On the salary multiples it says that the max I can borrow is £100k.

Would I be eligible to borrow more as I have equity?

Thanks

Comments

  • dalepearson
    dalepearson Posts: 167 Forumite
    Different lenders offer differing amounts. I am sure a lender will offer you more if you ask, just be sure you can afford the repayments.
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    All lenders have different multiples, and some uses affordability based lending calculations.

    What is your gross annual salary and what is your partners gorss annual salary?

    Do you have any current monthly financial commitments?
    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.
  • samandmillie
    samandmillie Posts: 215 Forumite
    15k & 18k. Outgoings of approx £600 on loans etc (not inc current mortgage/insurances etc).

    Thanks
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