working out amount of mortgage loan vs any outstadning debt

mkfruitcake

hello

just working out a general loaning basis for mortgages,
salary x4 for example
then - any outstanding debt
= amount you may get

i know its different with different lenders and the amount may also differ just trying to roughly work out some figures?!
so is the above the right sum?!

many thanks

beecher2

Is your level of debt still 30k plus? I'd say there's no way you'll get 4 times joint salary minus 30k if that's the case.

mkfruitcake

as i had previously said i am aware every lender is different and the amount they offer is different, i am just after a general calulation to base some numbers on

GMS

As you have correctly said, every lender is different therefore you cannot have a 'general calculation' to work from.

You could try various lender websites and put the numbers into the affordability calculator.

Simple income multiples will not work, especially if you have debts.

Thrugelmir

mkfruitcake wrote: »

as i had previously said i am aware every lender is different and the amount they offer is different, i am just after a general calulation to base some numbers on

How much additional debt is invloved?

firstaspect

It depends on the amount of debt really. Your calculation would create a very rough estimate for a lot of lenders, presuming your debt isn't something massive.