Does it affect my credit rating if i want to...

Jay83

find out how much i could get on a mortgage? I only earn 21k per year. Just wanted to know how much a bank would give me before i know how much i need to save up for a deposit. thanks

_Andy_

Depends on the lender, some do 'soft' credit searches, some don't.
As a guide you could be looking at around 4x your income.
You'd need to save up at least 10% deposit plus money for legal fees, valuation fee, moving in costs, contingency etc

rsykes2000

Try the HSBC online mortgage quote. You don't have to put any details in about yourself to do a credit check, simply numbers about earnings and debts and it will give you an idea of how much they will loan.

https://hsss1.hsbc.co.uk/bankinguk/mortgageAIP/ourservice.jsp?Start=true

herbiesjp

A rough rule of thumb is between 3 & 4 times. Some may go higher, but affordability is crucial and you would need to make sure you could afford any mortgage payments be it at 3 or 4 times your income.

Minimum deposit is 10%

The better rates start off with a 25% deposit