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Where to get ball park figure from
LydiaJ
Posts: 8,083 Forumite
Hi everyone.
I'm looking for some advice. My divorce solicitor has asked me to go and see somebody to get some idea of how much mortgage I would be able to borrow, given my salary etc. I would be an FTB with a decent deposit but not a huge salary. Where should I go to get a quote or two, and what info will they need from me when I do?
Thanks very much,
Lydia
I'm looking for some advice. My divorce solicitor has asked me to go and see somebody to get some idea of how much mortgage I would be able to borrow, given my salary etc. I would be an FTB with a decent deposit but not a huge salary. Where should I go to get a quote or two, and what info will they need from me when I do?
Thanks very much,
Lydia
Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.
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Comments
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The various banks have online calculators that can give you an estimate of how much you can borrow. For example, here is NatWest's: http://www.natwest.com/personal/mortgages/g1/other-calculators.ashx
Or you could speak to a mortgage adviser at your own bank. You can get a fairly accurate figure by going through your income and expenditure with their help. You wouldn't need to prove anything until/unless you actually apply for a mortgage.0 -
If you have an impeccable credit history, the general rule of thumb is about 3.5 times a single salary, but you have to take off any other financial commitments such as loans/outstanding credit cards/child support costs etc.
If you have any financial blemishes, it could be less, and with a higher interest rate. Have you checked your credit report? It's a good first step.Mortgage Free thanks to ill-health retirement0 -
Will vary lender to lender and outgoings will affect it, between 3 - 5 x income.0
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