How much could we get for mortgage?

richie_greenuk

Hi guys

We are looking to move and have seen a few places and spoken to a few brokers. The feedback has varied greatly from £95000 - £170000!
Can any brokers give me a rough estimate - I earn £17000 and partner earns £17600. Joint income around £2400 per month. Current loan of £300 per month which will be paid off with equity from current house - after this is gone, we will have no finance, loans or cards.

Thanks

herbiesjp

On 4 times joint income you could get £138k

You could get more or less than this based on your credit scores, deposit you are putting down and if you have children

You would need to base it the other way round though - i.e. see what you can comfortably afford each month as a mortgage payment and then see what mortgage amount that would equate to

HTH

richie_greenuk

Thanks

We do have a new born baby and our deposit would probably be 5%. As far as I am aware we have good credit scores.
I have worked out we could afford around £900 per month.

Thanks again