4x Income Mortgage 90% LTV - possible?

experience

Im a FTB with no loans/credit cards and have a good credit score with both Equifax & Experian. I've seen a house for £150k, i have 10% deposit and earn £35k so how likely would i be able to get a mortgage for £135k?

Am i dreaming? :think:

I could borrow a further 5% off my parents but that would really stretch my budget and i'd have to pay them back whilst also doing the house up so money would be tight - but would this be a better option to get a mortgage of this amount?

Let_Us_See

Should not be a problem. with your income there are a number of lenders able to provide 4 x income.

herbiesjp

You should be able to get the mortgage without the extra help.

The extra 5% may open up some better deals for you though.

However if the money is repayable and not a gift the lenders would need to take that into account and could be counter productive in terms of getting the mortgage amount agreed.

experience

Thanks - was just worried that i wouldnt stand a chance with a 10% deposit