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Can I borrow more than 4.7x income?

deaston · 2015-09-19 06:33:02

I'm self employed and, according to my accounts, my average net profit+director's salary is £75,731. That allows me to borrow £355,000, but we need £410,000 to get the house we want. When I spoke to HSBC, the guy on the phone mentioned "plus the 15% you get £410,000." Perfect! But upon applying, they've turned us down (not…

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uncreative Posts: 384 Forumite

22 September 2015 at 7:03PM

Coz i'm wanting to pay the mortgage off in 6 years... I'm a wannabe Mortgage Free Wannabe....!

Total Credit Used...=........£9,000 / £52,700
Mortgage..............=........£138,000 , 20 Years left.
:starmod:CC cashback for this year..=........£112.88 £205.81 banked in 2015
:starmod:YNAB User & Mortgage Free Wannabe
:starmod::A19/03/16
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Can I borrow more than 4.7x income?

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