Any 5 or 5.5x salary lenders?

Allotrope

This was a few years ago, but when I bought my house, I got refused by Barclays and Halifax as a single mum on low income. I had a LTV of 40% and in the end Santander gave me a loan based on this not my income. Not sure they do this anymore but my hefty deposit definitely helped!

Whistler23

Isn't Barclay's only a soft search for an AIP as well?

csgohan4

Bare in mind, AIP are not a guarantee of lending, only on full application will you know, they also do stress tests and see if you can afford around extra 5% in interest for affordability purposes

MrsNubs

My husband and I got 5x joint salary last year, but on an LTV of 56%. 70% seems quite high for 5x. I'd definitely recommend an independent broker. Our was invaluable

MallyGirl

Thrugelmir wrote: »

What's the relevance of this figure. Easily be wiped out if interest rates were to rise significantly in the future.

These multipliers seem crazy to me. I remember my parents going through endless '2x 1 plus 1 times the other' type calculations when they moved around the time I went to Uni in the mid 80s. Roll on a few years and I bought my first flat on 3 x salary but the interest rate was 14%. If this sort of rate came around again there would be so many people in deep doodoo - all moaning that banks were irresponsible for lending so much.

amnblog

As Gurprit (post now removed by Moderators) is new to the Forum he will not be aware of the extensive coverage of the service from Estate Agency based Brokers on here.

csgohan4

Gurupritsinh_Mistry wrote: »

Hello

I hope you well.

I have been working as mortgage adviser for 10 years and I have worked with majority of the high street bank as mortgage adviser. Currently I m working with estate agent division as mortgage adviser where I have access to 50 different lenders and I am positive that I can help you get your first home.

You can contact me on redacted

I need your help, will pm you and call you... not

Btw a broker advertising their services without reading forum rules does not bode well in your working ethos and quality of your work.

kingstreet

csgohan4 wrote: »

Btw a broker advertising their services without reading forum rules does not bode well in your working ethos and quality of your work.

... or replying to a twelve month-old thread!

Edi81

Wouldn’t fill me with confidence on attention to detail!

Amst

PawelK wrote: »

I have been saving for years and I have enough of it. The only thing that always seems to be an obstacle is my salary. If I find someone who lends 5x or more, I will be not much more risk as My deposit would still be around 30% and mortgage repayments would be affordable for me.

You obviously don't have enough if you're needing to 5 or 5.5x your salary :rotfl::money: