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anyone still offering 5 times salary mortgages?

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Comments

  • betmunch
    betmunch Posts: 3,126 Forumite
    The reason you have had no replies, in my opinion, is that as soon as someone names the lender you will be off to them with your application.

    If someone qualified answered it could be misconstrewed (sp?) as advice, and someone unqualified is unlikely to knwo which lenders will do this.

    To find out the best lender for your needs you need to speak to a whole of market broker
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • michaels
    michaels Posts: 29,231 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    First Direct did similar for me in March for offset - not sure if they still will?
    ukjoel wrote: »
    Out of curiousity where was the 4.

    We were offered an 8 x multiple a few years back as wife was a professional and they only offered it to doctors, dentists, etc.

    I need a 4.5 multiple on my salary although would only be borrowing 40% of the total house price.

    If anyone has any ideas would appreciate it.
    I think....
  • firstaspect
    firstaspect Posts: 487 Forumite
    We've just had our mortgage done through Nationwide and they offered us 4.5x income. A whole of market broker is your best bet.
  • lee636
    lee636 Posts: 460 Forumite
    We got near 5 x with A&L.
  • cardinalbiggles
    cardinalbiggles Posts: 737 Forumite
    God, I am worried enough at 1.8x joint income never mind 5x and I have no debts whatsoever!
  • adam1982
    adam1982 Posts: 50 Forumite
    cardinalbiggles wrote: »
    God, I am worried enough at 1.8x joint income never mind 5x and I have no debts whatsoever!

    Believe me if i wasnt in the financial position i am in i dont think i would be looking at a 5 times salary mortgage either. 1.8 would be great if i earnt £100,000!
  • nomoneytoday
    nomoneytoday Posts: 4,871 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    The 8x for doctors, solicitors, accoutants etc is because starting salaries are expected to rise significantly once qualified and experienced.
    Otherwise 4x seems to be the average these days IMHO
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