Any have experience of the Chelsea income multipliers?

newgirly

Hi, just wondered if anyone has any experience of chelsea building society's income multipliers. I already have a mortgage with them and am looking to move so would like to know how much we can borrow, the only way to find out is to speak to an advisor which can take up tp two weeks! I am on the waiting list at a couple of branches but I only want a rough idea, I have heard mentioned by them fairly recently they may go up to 4.5 x wage.

kingstreet

Is there anything helpful on the Yorkshire site?

trulysaintly

newgirly wrote: »

Hi, just wondered if anyone has any experience of chelsea building society's income multipliers. I already have a mortgage with them and am looking to move so would like to know how much we can borrow, the only way to find out is to speak to an advisor which can take up tp two weeks! I am on the waiting list at a couple of branches but I only want a rough idea, I have heard mentioned by them fairly recently they may go up to 4.5 x wage.

If your income is less than £30k the only guide they give out is 3x income. If you earn more than £35k then this extends to 3.75x - but there may be more flexibility at local level (dependent on whether they underwrite locally or not).

Other lenders could well give you more to play with but it all comes down to your individual circumstances.

newgirly

Hi , thanks for the reply, I went on the yorkshire site and it's coming up at £102K and thats on a income of £41K. It's definatly changed as chelsea lent us £161k last year.

I will speak to the advisor when he has time, just to see if they can go higher than that, looks doubtful though.