Mortgage Calculator

paulsally47

Hi,

I need to apply through Santander as I've lived overseas and I've just returned.

Basic 130K OTE 160k. If I forget the OTE of 30K as it's not proven so they wont accept. Any idea of what they'll lend me? Are the mortgage caculators a good indication or are they conservative estimates?

No debt, no credit cards
Good Credit history (checked)
100k deposit and I'd like to buy a house for 670,000

If I use the online calculator I fall 20k short.

Thanks

megaginge

4.5x as a rule of thumb, but depends on your outgoings on the new affordability criteria.

Book an appointment with a broker

Debtslayer

Use an independent mortgage broker; they will know the market; what's accepted and what's not and the best lenders to approach

kingstreet

How soon since you came back to UK?

My lender list says Santander is min twelve months back, with one lender asking for min six months and another no minimum as long as you pass the credit score.

bmouthboyo

I didn't realise you had to be in the UK a certain amount of time before banks lend for a mortgage again? Do you have any links to this information?

Thanks,

megaginge

Maybe have a look at this website (Note, I am not affiliated and cannot vouch for it)

http://www.offshoreonline.org/

amnblog

bmouthboyo wrote: »

I didn't realise you had to be in the UK a certain amount of time before banks lend for a mortgage again? Do you have any links to this information?

Thanks,

Not all information is on the internet.


We brokers carry hundreds of pieces of seemly irrelevant info like this in our heads and in our daybooks.

AnotherJoe

In your position I'd rent for a year or so, save up additional money for deposit, which will enable you to get a much wider range of mortgages due to length of time in UK and with employer, and a much cheaper mortgage due to bigger deposit lowering the LTV.

kingstreet

bmouthboyo wrote: »

I didn't realise you had to be in the UK a certain amount of time before banks lend for a mortgage again? Do you have any links to this information?

It's contained in each lender's criteria, so you get an enquiry, you check the criteria.

Nationwide, as an example, accepts no-one with a non-UK address in the last three years.

There is no single place capable of storing and updating every lender's criteria as it changes. If there was, it would carry a high cost and probably only brokers who would use such information daily would think it worthwhile.