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Affordability Calculators - upper limit?
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TeddyHaller
Posts: 6 Forumite
Hi all!
I am a FTB investigating how much I could afford to borrow. I'm aware that a number of factors go into deciding how much one can borrow, but I was led to believe that the upper limit was 4.5x gross annual income (for me, about £121,000)
Yet Leeds' affordability calculator said I could borrow over £150,000 despite their lending criteria clearly stating that they do not lend more than 4.5x gross annual income.
Several other affordability calculators have come back with more than £121,000 and I'm not sure how far to trust them, given the fact that the Leeds one ignores its own lending criteria. Any thoughts?
I am a FTB investigating how much I could afford to borrow. I'm aware that a number of factors go into deciding how much one can borrow, but I was led to believe that the upper limit was 4.5x gross annual income (for me, about £121,000)
Yet Leeds' affordability calculator said I could borrow over £150,000 despite their lending criteria clearly stating that they do not lend more than 4.5x gross annual income.
Several other affordability calculators have come back with more than £121,000 and I'm not sure how far to trust them, given the fact that the Leeds one ignores its own lending criteria. Any thoughts?
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Comments
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Oops - wrong sub forum. Apologies. Now how do I delete?0
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You can't - maybe ask one of the board guides to move it?0
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