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Another How Much Can I Borrow?

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Hi All,

Iv been looking around with the online calculators for the different companies and its getting very varied. I thought i would come here for advice instead.

My situation is that i have a deposit of around £25k looking for a property around the £160k mark ideally (but not the end of the world if not).

My question is, how much can i borrow?

My girlfriend and i have a combined salary of £38k plus i get a quartely bonus which adds up to about £3k per year.

We have no dependants and no debt whatsoever (apart from my gf student loan but i heard that doesnt count).

Any ideas of a ballpark figure of our maximum borrowing?

Thanks

Jack
Borrowed - £148000 June 2013
Original MF Date - May 2038
Aiming For - March 2031 (At Latest!)
Overpaid - £490.00
Daily Interest - [STRIKE]£18.16[/STRIKE] £18.09

Comments

  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    You are in the right ballpark on the numbers..

    Given your deposit and income this should be achievable, other things being equal...

    Good luck
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, 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.
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