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is it possible to be lent 5x salary these days?

The_White_Horse
The_White_Horse Posts: 3,315 Forumite
in Mortgages & endowments
obviously credit rating permitting.

Cheers.

Comments

  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    Yes, but very much credit score/lender specific.
    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.
  • Jimbo1976
    Jimbo1976 Posts: 498 Forumite
    Will also depend on LTV etc. The bigger the deposit you have the more chance you have. Lenders don't tend to work on multiples these days it is all down to affordability.

    If you are single with no major outgoings (debts, fixed goings etc) then you have more chance than someone who is married with 5 kids, a partner who does not work and a lot of fixed outgoings.
  • Too_Hairy_Husky
    Too_Hairy_Husky Posts: 52 Forumite
    We have just received an offer based on 5x our joint salaries for 75% LTV - so yes it is possible. I have to say, we would never have found it ourselves though so would personally recommend a Broker. Good luck x
  • YoungBusinessman
    YoungBusinessman Posts: 1,239 Forumite
    Well on salary 21k and bonus 29k, find out tomorrow if getting £100k mortgage, with borrowing at 17k paying £500 a month....

    im confident.
    :eek:Living frugally at 24 :beer:
    Increase net worth £30k in 2016 : http://forums.moneysavingexpert.com/showthread.php?p=69797771#post69797771
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