Ft buyer, how can I find out how much mortgage?

kiely27

Can anybody please tell me is there a way of finding out how much of a mortgage we are likely to get based on our income + deposit?

Thanks in advance!

getmore4less

SOme lenders have calculatora which give a guide,

here is Barclays.

http://www.barclays.co.uk/mortgages/

allthough this does say you can borrow up to 5x which is unlikely these days.

kiely27

Thanks so much, will check it out now.

brightbuy

There are various calculators online to help you and lender websites direct will offer more accurate figures. They are called 'affordability calculators' and they will work out how much of a mortgage you should be eligible for (no matter what size deposit you have). Most online calculators are very basic tools, to work out the exact amount you can borrow will require a credit check, this is in the form of an agreement/decision in principle.

Before you go down the credit check route you will need to speak with an adviser to ensure you are right for the lender, and the lender is right for you.