Most cautious lenders?

RosieDG

Hi everyone. Looking for a bit of info here.

Who do you think are the most cautious mortgage lenders?

Who would lend least to someone with a big deposit but low income? Who would lend most?

Who takes into account lots of extra income - child benefit, tax credits, etc? Who only counts actual salary?

Thanks very much.

_Andy_

It would help if you could clarify your situation

I.e purchase price, deposit, your actual income (break it down)

RosieDG

Hi Andy

My deposit is ~£60k but my income is only £18k. I'm an FTB. I don't know what house price I'm looking at - I'm not going to start choosing houses until I have a ball park figure for what I can borrow. If I get a quote from a lender who will offer me stupid amounts of money then I will be put under pressure from my BF to borrow the max I can. (I'm buying on my own - he doesn't live with me.) So I want to know which lenders to approach to get responsible quotes.

Please everyone don't start telling me not to give in to the pressure, it's none of his business etc. It's a long story and I don't want to go into details here. Please just believe me it would help me to know which lenders will only offer me amounts it would be responsible for me to borrow.

Thanks.

Thrugelmir

RosieDG wrote: »

Hi Andy

My deposit is ~£60k but my income is only £18k. I'm an FTB. I don't know what house price I'm looking at - I'm not going to start choosing houses until I have a ball park figure for what I can borrow. If I get a quote from a lender who will offer me stupid amounts of money then I will be put under pressure from my BF to borrow the max I can. (I'm buying on my own - he doesn't live with me.) So I want to know which lenders to approach to get responsible quotes.

Please everyone don't start telling me not to give in to the pressure, it's none of his business etc. It's a long story and I don't want to go into details here. Please just believe me it would help me to know which lenders will only offer me amounts it would be responsible for me to borrow.

Thanks.

Try a different approach. Prepare a personal budget ,income and outgoings. Decide what you can afford to repay for a mortgage.

Here's a link for a mortage calculator

http://www.cml.org.uk/cml/consumers/calculator/mortcalculator

Allow for rates increasing in the future. So you don't overstretch yourself.

Then you can see what you could afford to buy.

_Andy_

Is your income £18k in total? Can you provide a breakdown of all income?

RosieDG

Thanks. I'll do the budget thing when things get more serious - I'm probably not actually going to buy just yet.

In the meantime, I need to provide some quotes for what 2 or 3 mortgage lenders will lend me, and I want to make sure I go to lenders who won't offer to lend me more than I could sensibly borrow.

I'm really sorry I don't want to go into details as to why I need to provide these quotes. I know you're all trying to be helpful, and I'm grateful, but it's complicated, and I know people who come on here and I don't want them to recognise me.:o

ETA My salary is £18k. I get CB, CTC, child maintenance etc on top of that.

Thrugelmir

RosieDG wrote: »

Thanks. I'll do the budget thing when things get more serious - I'm probably not actually going to buy just yet.

In the meantime, I need to provide some quotes for what 2 or 3 mortgage lenders will lend me, and I want to make sure I go to lenders who won't offer to lend me more than I could sensibly borrow.

I'm really sorry I don't want to go into details as to why I need to provide these quotes. I know you're all trying to be helpful, and I'm grateful, but it's complicated, and I know people who come on here and I don't want them to recognise me.:o

ETA My salary is £18k. I get CB, CTC, child maintenance etc on top of that.

You've a good deposit to put down. So try the main lenders Lloyds ( not the Halifax) or the HSBC initially to obtain quotes.