We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Ftb questions
JamesN
Posts: 794 Forumite
Hi all
I know everything seems to be done on affordability now. However, some still quote on salary multiples. With that in mind with a 75% or better LTV, what would be the best multiple I can hope for?
I know most are 4.5x and I was previously limited to that because I was considering help to buy. But now I'm not going for new build so hoping to get 6x as Barclay's offer.
Credit rating is very good. Never had a bad mark on my file. Only commitment is my student loan which is the old method. I've done budgets and I can afford it if interest rates go to 7% but would be looking to get a fix for 5 years anyway. I'm about to get my chartered status as an accountant if that helps.
Thanks for the help
I know everything seems to be done on affordability now. However, some still quote on salary multiples. With that in mind with a 75% or better LTV, what would be the best multiple I can hope for?
I know most are 4.5x and I was previously limited to that because I was considering help to buy. But now I'm not going for new build so hoping to get 6x as Barclay's offer.
Credit rating is very good. Never had a bad mark on my file. Only commitment is my student loan which is the old method. I've done budgets and I can afford it if interest rates go to 7% but would be looking to get a fix for 5 years anyway. I'm about to get my chartered status as an accountant if that helps.
Thanks for the help
0
Comments
-
Barclays dont offer 6x income. 4.5x cap was brought in last week.
It MAY be possible to get close to 6x income but not with any high street lenders I dont think.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, 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.0 -
Frustrating! It seems everything is against me at the moment!
I thought that cap was only for low deposit amounts?0 -
Sounds like you need to do some clever accounting ?!0
-
What would you define as clever accounting?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards